Psalm 119:121-128 Ayin: The Law-Void Or Better Than Fine Gold.
Those who actually apply the law to life and do justice and righteousness will have oppressors (v. 121). These are the proud who regard the law as void. The psalmist prays that the LORD would be his surety (v. 122). The LORD stands beside those who keep His law. He Himself is our pledge of support (Cf. Job 17:3; Heb. 7:22) We are able to stand because the LORD in His mercy, and according to His “righteous word”, provides for us salvation (vv. 123-124). So the word is the first axiom of all thought and existence, but it has never been divorced from ethics, and it also provides for us the knowledge of salvation based on His mercy.
In mercy the LORD also teaches us His statutes. This is why the psalmist prays that the LORD would give him understanding, to know His testimonies (v. 125). This is clearly more than just receiving some information, this is having wisdom to put the law into practice so that righteousness and justice are done. It is very important that the law is more than just words in a book. The law must be done, and in order for this to happen there comes a time when the LORD must act (v. 126). Knowing that the LORD will act, the psalmist cherishes His law more than gold (v. 127 Cf. Ps. 19:10). Knowing that the LORD’s precepts are right, he opposes every false way (v. 128).