Several years ago I recall this verse being the subject of a conference keynote speaker that was quite intriguing. It was the first time I had heard about context of this verse. I was familiar with “be still and know”, I vaguely remember hearing it on a television advertisement many many times. It seemed to me, as a child, to be a mantra of peace and tranquility.
The reality is that this word from God comes in midst of battle. You’ll have to take the time to read the whole chapter 46 from the book of Psalms. Literally this verse is saying throw down or let go of your earthly efforts and be conscious of the truth that I AM the one and only God of all; I will lift myself up to those people who don’t know me, I will lift myself up to everyone.
We face all sorts of battles today. Mostly they are not physical battles like the armies of Israel fought; but are spiritual battles. Oh they might feel quite emotional, but scripture tells us are spiritual battles. They are moments in time where we can either pick up our weapons of jealousy, and anger, and sorrow, and fight against others or ourselves, or we can choose to lay those things down, lift up the Lord, and let Him fight and win our battle for us. 
I have a special place that I have visited many times over the years. It is a little prayer chapel tucked in the woods, where I’ve laid my burdens and my spiritual battles down before the Lord to lift Him up and let Him be God of all. It reminds me a great deal of a still place in the middle of LIFE.
I encourage you to find a place to go, where you can lay your weapons down. You might not catch my meaning in the use of the term “weapon”. Here are some examples of weapons I know I have hung on to in various battles throughout my life. I’ve hung on to bitterness before and fought for self-preservation. I’ve hung on to jealousy before and fought to be better than others. I’ve hung on to my wounds before and fought for the affirmation of people. Weapons like these have simply kept the Lord from fighting for me. However, when I have exchanged my raging emotions for the sure stillness that God delivers, and allowed Him to battle for me, there is peace and quiet.
Today, as I write, is the kind of day to be still. It’s an anniversary day. A day that can either be swallowed up in the mire of a pity party, or a day that I can choose lay those feelings down and exalt the Name above all names, King of all kings and Lord of all. Even now, as I focus on God’s might, I am quietly reminded that my God is bigger than everything else. He is good and He is worthy of my praise. He is able to do much more than I can ask, or imagine. He can heal and bring to justice. He can solve problems I cannot. He can change my heart and create something new in me that is better. He can do everything in me and in you that need be done.
