Quoted from Wikipedia [1]:
The Feast of the Most Precious Blood of Our Lord Jesus Christ is a feast, which has been in the General Roman Calendar from 1849 to 1969. It is focused on the Blood of Christ and its salvific nature.
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In Catholic belief, the Blood of Christ is precious because it is Christ's own great ransom paid for the redemption of mankind. In this belief, as there was to be no remission of sin without the shedding of blood, the "Incarnate Word" not only offered his life for the salvation of the world, but he offered to give up his life by a bloody death, and to hang bloodless, soulless and dead upon the Cross for the salvation of humanity. Jesus is said to have given his life – his blood – for the sake of all humanity, atoning for every form of human sin. The devotion to the Most Precious Blood is thus understood to be a call to repentance and reparation.
[1] https://en.wikipedia.org/wiki/Feast_of_the_Most_Precious_Blood, quoted without bold type and references.
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