You include this line in your HTML code when you want all of the robots or spiders to follow all content and links on your website. This helps new sites to get indexed quickly on all search engines.

It talks to the spiders and asks them to look at and index all of your pages.

ok thanks for that..so without it...what happens?

It looks to me like part of your robots.txt file. Without it, some spiders may not index your pages, or the indexing may be slower, or it may not make much of a difference at all.

To the best of my knowledge, it doesn't hurt anything at all the way it is. The robots.txt is usually used to keep spiders away from certain pages, files, or parts of the website. Well mannered spiders will obey it. Unruly ones will do what they want.

Yep, spider talker. Follow all links commands. It is kinda off though, something does not look right. I'll have to take a look elsewhere and get back to you for sure.

Personally, I think that you are better off using a robots.txt file as more robots seem to comply with the file than the meta tag and you do not need to remember to include the tag on every page of your websites.