Where and how did Christ pay the price of redemption for the world?
At the cross of Calvary, Christ paid the price of redemption for the whole human race with His own blood. His blood is the redemption price, and Scripture says without the shedding of blood there is no remission. God set Him forth as a propitiation through faith in His blood, so redemption is available to all, though appropriated by faith.
Les explains that Israel's redemption from Egypt was more symbolic than actual: the blood of the Lamb kept them safe on the night of the Passover, and the power of opening the Red Sea brought the nation out to God's help, but He redeemed them and paid the price. For the whole world population in general, however, Les teaches that Christ paid the price with His own blood. The cross of Calvary is where Christ paid the price of redemption for the whole human race, which fell under the control of Satan when Adam sinned. He paid the price for every human being's sin—all, all. Les stresses that He has paid the price of redemption for everyone, but it cannot be appropriated until faith comes into the picture. In Romans chapter 3, the believer is justified freely because of that price. Verse 25 says God set forth Christ Jesus to be a propitiation through faith in His blood. The blood is the price of redemption; without the shedding of blood, there is no remission. Had Christ not shed His blood, the redemption price would never have been paid.