New or Renewed, it's a better Covenant

"Here, the days are coming," says Y'hovah, "when I will make a new covenant with the house of Yisrael and with the house of Y'hudah."

Yirmeyahu 31:30-34
Often called the "new covenant," it should more accurately be referred to as the "renewed covenant," as the Hebrew word for "new" in this passage is the same word used to describe a new moon or a new year. For both the moon and the year, YHVH does not make a whole new moon, nor does he make a separate year that is wholly unfamiliar. He renews them. Indeed, they are different from this time forward, but the only aspect that is different about this renewed covenant with the Jewish people is that Avinu Elohei will "write" His Torah/instructions on their hearts and in their minds.

Qorintiyim Bĕt (2 Corinthians) 3:3  You make it clear that you are a letter from the Messiah placed in our care, written not with ink but by the Spirit of the living God, not on stone tablets but on human hearts.

HIS COVENANTS is a teaching preceding this one. His Covenants article should be read before this one to help understand all the covenants of Avinu Elohei.

The Renewed Covenant

Yirmeyahu 31:31-37
Avinu Elohei set the parameters of the present creation through His covenant with Noach (Noah).
He established His people through whom he would restore the creation through the covenant with Avaraham (Abraham).
At Sinai, He began the covenant of blessings and curses with His people, Yisrael.
In the Davidic Covenant, He affirmed the Kingdom of Yisrael with the son of David and the Levitical priesthood.
While each of these covenants has remained valid and in force, none of them has been brought into full or complete manifestation. This fulfillment of the covenants requires a final and ultimate covenant that will complete and fulfill all others before it. This is called the "Renewed Covenant."

The new or renewed covenant was anticipated in the Mosaic Covenant that was reconfirmed in Mo'av (Moab; Deut. 30). It is announced and explained in Yirmeyahu/Jeremiah 31:31-37 and called a "new covenant," not to the goyim/nations but made between Y'hovah and the house of Yisrael and of the house of Y'hudah (Judah). The new covenant would be different from the Mosaic Covenant in that Yisrael and Y'hudah would not break it. Avinu Elohei will place His Torah (his instructions/whole bible, not just the 1st five books) on their hearts, resulting in the full manifestation that He is their Elohei and they are His people. In its fulfillment, this covenant will not require proclamation or evangelization, because they will all know Him, and they will be forgiven of their sins.

Jer 31:31  It will not be like the covenant I made with their fathers on the day I took them by their hand and brought them out of the land of Egypt; because they, for their part, violated my covenant, even though I, for my part, was a husband to them," says Adonai. 
Jer 31:32  "For this is the covenant I will make with the house of Isra'el after those days," says Adonai: "I will put my Torah within them and write it on their hearts; I will be their God, and they will be my people. 
Jer 31:33  No longer will any of them teach his fellow community member or his brother, 'Know Adonai'; for all will know me, from the least of them to the greatest; because I will forgive their wickednesses and remember their sins no more." 
Jer 31:34  This is what Adonai says, who gives the sun as light for the day, who ordained the laws for the moon and stars to provide light for the night, who stirs up the sea until its waves roar—Adonai-Tzva'ot is his name:

This covenant is necessary because the Mosaic one at Sinai was flawed due to the flesh. What The Torah/law cannot do because of man's evil inclination, Avinu Elohei will do by sending His Son, HaMashiach, to accomplish it. That is the heart of the Good News/gospel, which is related to the new covenant but is not the new covenant. So the new covenant will complete and fulfill the other covenants and bring full restoration and salvation to Avinu Elohei's creation. This will be accomplished in HaMashiach and through the people of Yisrael. The requirement that is directly related to Yisrael is found in Yirmyahu 31:35-39.

Jer 31:35  "If these laws leave my presence," says Adonai, "then the offspring of Isra'el will stop being a nation in my presence forever." 
Jer 31:36  This is what Adonai says: "If the sky above can be measured and the foundations of the earth be fathomed, then I will reject all the offspring of Isra'el for all that they have done," says Adonai. 
Jer 31:37  "Look, the days are coming," says Adonai, "when the city will be rebuilt for Adonai from the Tower of Hanan'el to the Corner Gate. 
Jer 31:38  The measuring line will be stretched straight to Garev Hill, then turn to Go`ah. 
Jer 31:39  The whole valley of corpses and ashes, including all the fields as far as Vadi Kidron, and on to the corner of the Horse Gate to the east, will be separated out for Adonai; it will never be uprooted or destroyed again."

Yirmeyahu 31:37 The city will be rebuilt for Adonai.
This is a reaffirmation of Avinu Elohei's eternal covenant with the Jewish people, that He will never reject them. Such is proven by the rhetorical phrase stated in scripture, "if the sky above can be measured and the foundations of the earth can be fathomed, then I will reject all the offspring of Yisrael" (v.36) The eternality of Avinu Elohei's renewed convenant with the Jewish people is also stated twice more in Yirmeyahu 33 and reconfirmed by Rabbi Sha'ul/Paul in Romiyim (Romans) 11:28. There is no basis in this passage to argue that the "new covenant" is made with the Goyim/gentile based church, that they are the "new people of God."

Y'hoshua/Yeshua himself addresses this when He declares that He has not come to annul The Torah or the prophets, but to bring them into full operation Mattithyahu (Matthew) 5:17-19. He also claims that none of it has or will pass away, let alone be replaced, until all is fulfilled. And this will remain true as long as the creation (heaven and earth) remains. It is therefore clear that the new covenant fulfills the other covenants rather than replacing them.

At the last supper during Pesach/Passover, Y'hoshua took the elements of the Seder and claimed that they were the establishment of the new covenant. He spoke of this cup, which is poured out for humankind (the cup of redemption), as the new covenant in His blood. His death and resurrection would bring about the establishment of the new covenant with Yisrael and Y'hudah through the mystery of the good news. This promise of full restoration would also include the goyim through grafting them into Yisrael. Romiyim (Romans) 11

By Rabbi HaTzair M. Francisco Arbas. Ref: CJB