“He canceled the record of the charges against us and took it away by nailing it to the cross. In this way He disarmed the spiritual rulers and authorities. He shamed them publicly by His victory on the cross.”
When Jesus hung on the cross, our destinies, the heavens and all of creation as it was known changed forever. Our sins, every one of them, from the past all the way into the future, were nailed to the cross in the glorious exchange. See what Paul says at the beginning of this verse. Jesus canceled every record of wrong, all the rightful charges against us for sinning against Him; nailed to the cross in the greatest act of love. Not only did He forgive our sins, but disarmed the foothold the enemy had over us. He took away the sting of death. Death on the cross was not defeat for Jesus, but victory. Jesus completed the work He came to do on the cross, living a sinless, blameless life and taking our sins on the cross. He won. And we are part of that victory. Because of Jesus, we get to live a life forgiven and made right before Christ. It is Christ who gets the glory, now and forever more.