Jesus took the penalty of the elect, removing the stigma of sin, taking the writ of the ordinances that stood against the elect upon Himself on the cross. This is what Paul is saying. In the sacrificial system, the sin sacrifice died as a substitute. The death symbolizing what man would face for their sin, and in the death of the sacrifice, the sin was atoned/covered. For without the shedding of blood, there is no remission of sin. Jesus was the perfect sacrifice. Did you completely miss the symbolism of Abraham sacrificing Isaac? God told Abraham to stop, and not to kill Isaac, and provided the ram as a substitute sacrifice for Isaac. Everything has meaning. This was foreshadowing what Jesus did. God stopped from killing the elect, and provided His Son in their place.