TRANSLATION
Everything happening within time, which consists of past, present and future, is merely a dream. That is the secret understanding in all Vedic literature.
PURPORT
Factually all of material existence is only a dream. Thus there is no question of past, present or future. Persons who are addicted to karma-kāṇḍa-vicāra, which means "working for future happiness through fruitive activities," are also dreaming. Similarly, past happiness and present happiness are merely dreams. The actual reality is Kṛṣṇa and service to Kṛṣṇa, which can save us from the clutches of māyā, for the Lord says in Bhagavad-gītā (7.14), mām eva ye prapadyante māyām etāṁ taranti te: "Those who surrender unto Me can easily cross beyond My illusory energy."