The priest during Mass, always says this while on the Eucharist, Holy communion time, when the bell rings, and one kneels.
What exactly does this mean for people?
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I wonder if the quotation you used is correct? You wrote, "...blood that will be shed by many of you for the forgiveness of sins."
There are different Bible translations of this passage, but all I have seen are clear that Jesus was referring to His own blood being poured out for many for the forgiveness of sins. You may not have quoted the priest correctly.
*27Then he took a cup, gave thanks to God, and gave it to them. “Drink it, all of you,” he said; 28 “this is my blood, which seals God's covenant, my blood poured out for many for the forgiveness of sins. *
27 Then he took a cup, and when he had given thanks, he gave it to them, saying, “Drink from it, all of you. 28 This is my blood of the[b] covenant, which is poured out for many for the forgiveness of sins.