In plain words
The giver is He, the receiver is He
We have divided time into four yugas: Kṛta Yuga, Tretā Yuga, Dvāpara Yuga and Kali Yuga. These four are not separate things. We fixed them ourselves for the sake of our own experience. Neither Kali Yuga nor Kṛta Yuga has a form of its own. These four yugas began according to the nature of the people. Even in Kṛta Yuga there were people full of attachment and hatred. And even in this Kali Yuga there are people of peaceful nature, people of an ever truthful nature. God is the beginning of all the yugas. Because He is the beginning of all these yugas, He is called “Yugādi”. We have come to celebrate Yugādi as a festival. All are forms of God. There is no second thing that is not God. The giver is He, the receiver is He. Not recognising this truth, man swells with pride when he gives and sinks into dejection when he receives. So we must experience the evenness that neither swells nor sinks. We must not let our cleverness make our Ahaṅkāra grow still more. Our cleverness is only worldly cleverness. One person's cleverness may seem far greater than another's. However great, however small, all one sees is more and less; the nature of all of it is one. That is why this world has been called “anityam asukhaṃ lokam”.
The difference between ‘white and black’
A king held assemblies to test who in his kingdom had the greatest intellect, gathered everyone in one place and put a question to them: “What in this world is whiter than everything else, and what is blacker?” Each man of learning answered in his own way. One said milk. Another said cotton. Yet another said the sky. One more among them said a bird. They went on saying whatever came into their heads. But all of these are things of the world.
In that assembly there happened to be a great devotee. He gave his answer like this:
“O King! I am not a man of learning. If I have any little understanding, that too is a gift God has given. It is not mine. God alone has put understanding into everyone's head. But some people misuse that understanding. Some people use it well,” he said, and went on: “Mahārāja! Whiter than everything is the day, and blacker than everything is the night,” he said. “In this world it is just this: white is day, black is night. It is within this white and black that we bring our lives to their end. As the white goes, the black comes; as the black goes, the white comes.