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Yes I have studied Psalm 12, but apparently you have not. You take a couple verses out of context and assume they are speaking about the Word of God. They are not. The context is the "Godly man." That is who the author says that God will preserve. "O Lord, thou shalt preserve the Godly from this generation (the wicked) for ever.
The principle being taught that as long as a man is trusting in the Lord, God will deliver Him. The theme throughout the Psalm is centered on the "Godly man."
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Your interpretation is incorrect in light of the context of this passage, the fact that God has declared he would preserve his words, and in light of many other scripture references concerning the words of the Lord, including this very important verse:
John 5
37. And the Father himself, which hath sent me, hath borne witness of me. Ye have neither heard his voice at any time, nor seen his shape.
38. And ye have not his word abiding in you: for whom he hath sent, him ye believe not.
39. Search the scriptures; for in them ye think ye have eternal life: and they are they which testify of me.
40. And ye will not come to me, that ye might have life.
41. I receive not honour from men.
42. But I know you, that ye have not the love of God in you.
43. I am come in my Father's name, and ye receive me not: if another shall come in his own name, him ye will receive.
44. How can ye believe, which receive honour one of another, and seek not the honour that cometh from God only?
45. Do not think that I will accuse you to the Father: there is one that accuseth you, even Moses, in whom ye trust.
46. For had ye believed Moses, ye would have believed me: for he wrote of me.
47. But if ye believe not his writings, how shall ye believe my words?
It is throught the scriptures, or the word of truth that we are preserved and kept preserved and kept in safety from the wicked.
Ephesians 6
10. Finally, my brethren, be strong in the Lord, and in the power of his might.
11. Put on the whole armour of God, that ye may be able to stand against the wiles of the devil.
12. For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
13. Wherefore take unto you the whole armour of God, that ye may be able to withstand in the evil day, and having done all, to stand.
14. Stand therefore, having your loins girt about with truth, and having on the breastplate of righteousness;
15. And your feet shod with the preparation of the gospel of peace;
16. Above all, taking the shield of faith, wherewith ye shall be able to quench all the fiery darts of the wicked.
17. And take the helmet of salvation, and the sword of the Spirit, which is the word of God:
18. Praying always with all prayer and supplication in the Spirit, and watching thereunto with all perseverance and supplication for all saints;
19. And for me, that utterance may be given unto me, that I may open my mouth boldly, to make known the mystery of the gospel,
20. For which I am an ambassador in bonds: that therein I may speak boldly, as I ought to speak.
love in Jesus Christ our Lord and Saviour,
michelle