What is meant by "what your right hands possess" in the current era, and what is its ruling?

The correct wording of the verse is: "except from their wives or those their right hands possess, for indeed, they are not to be blamed." What is meant by "those their right hands possess" are female slaves (concubines), whom their owners are permitted to have sexual relations with without a marriage contract or dowry. Slavery has ended in the current era, but its rulings remain valid if its legitimate causes, such as jihad against disbelievers, were to exist. The default state for human beings is freedom, and slavery is an incidental condition with its own prescribed Islamic ruling.