The Psalm refers to peace as the Lord making wars to cease and in being exalted among the nations. The weapons that are waged against us now become useless. The Word teaches us how to have our internal loves of the Lord be more important than our external loves or needs. When this becomes the case in our lives, we are in the most secure peace that we can possibly be in. It is not difficult to conceive that when internal principles of honoring the Lord is more important than our external pleasures and status, we will become very secure and confident.
Job pictures such a person.
His steadfast faith in the Lord allowed him to persevere all the heartaches and traumas he was called upon to endure. Likewise, a person who has deeply held convictions that he or she will remain true to the Lord's Word no matter what the obstacles, will sense many personal moments of being safe in the Lord's hands. When we are in this state, or this is the condition of our lives, we are at peace. Finally, the Psalm concludes with the astounding words that our lives can exalt the name of the Lord. When the Lord is our most fundamental refuge, our lives will be able to exalt His presence.