In the beginning this (world) was water. Water produced the true, and the true is 'Brahman. Brahman produced Pragapati, Pragapati the Devas (gods). The Devas adore the true (satyam) alone. This satyam consists of three syllables. One syllable is sa, another t(i), the third yam. The first and last syllables are true, in the middle there is the untrue. This untrue is on both sides enclosed by the true, and thus the true preponderates. The untrue does not hurt him who knows this.

In plain words: At the start the world was water, and from it came truth, which is Brahman, the ultimate reality. Brahman produced Prajapati, the creator, who produced the gods, and the gods honor only truth. The word for truth, satyam, has three parts; the outer two stand for truth and the middle for untruth, so truth surrounds untruth and is stronger, and untruth cannot harm one who knows this.