What does the quote, "All of my possessions for a moment of time", mean?

Question

This was said by Elizabeth I in 1603 on her deathbed. I am having some trouble interpreting its meaning. Can anyone else offer their insight to what this quote is saying?

Answer 1

It could either be she's trading everything she has just for a chance to be alive longer....

or all of her possessions in the face of death are only momentary.  

Answer 2

I take this to mean that Elizabeth I would trade all of her possesions for more time on the earth.