Since I don't need convincing, I posted this comment to you in my original response. I have now rephrased it to include you.
There will always be skeptics, like St. Thomas [and ItsOurTimeNow], who will not accept or believe until they have have seen (John 20:24-29).
Catholics take the Bible literally.
"And he took bread, and gave thanks, and brake [it], and gave unto them, saying, This is my body which is given for you: this do in remembrance of me. Likewise also the cup after supper, saying, This cup [is] the new testament in my blood, which is shed for you." -Luke 22:19-20"I am the living bread which came down from heaven: if any man eat of this bread, he shall live for ever: and the bread that I will give is my flesh, which I will give for the life of the world. The Jews therefore strove among themselves, saying, How can this man give us [his] flesh to eat? Then Jesus said unto them, Verily, verily, I say unto you, Except ye eat the flesh of the Son of man, and drink his blood, ye have no life in you. Whoso eateth my flesh, and drinketh my blood, hath eternal life; and I will raise him up at the last day. For my flesh is meat indeed, and my blood is drink indeed. He that eateth my flesh, and drinketh my blood, dwelleth in me, and I in him." - John 6:51-56
"The cup of blessing which we bless, is it not the communion of the blood of Christ? The bread which we break, is it not the communion of the body of Christ? For we [being] many are one bread, [and] one body: for we are all partakers of that one bread." - 1 Corinthians 10:16-17
"For I have received of the Lord that which also I delivered unto you, That the Lord Jesus the [same] night in which he was betrayed took bread: And when he had given thanks, he brake [it], and said, Take, eat: this is my body, which is broken for you: this do in remembrance of me. After the same manner also [he took] the cup, when he had supped, saying, This cup is the new testament in my blood: this do ye, as oft as ye drink [it], in remembrance of me. For as often as ye eat this bread, and drink this cup, ye do shew the Lord's death till he come. Wherefore whosoever shall eat this bread, and drink [this] cup of the Lord, unworthily, shall be guilty of the body and blood of the Lord. But let a man examine himself, and so let him eat of [that] bread, and drink of [that] cup. For he that eateth and drinketh unworthily, eateth and drinketh damnation to himself, not discerning the Lord's body." - 1 Corinthians 11:23-29
These are His words, not mine or yours. I trust and believe in Him. So should you.
Did you notice in the scripture you posted that even after the blessing and consecration of the bread, just before eating it, the bread is still only bread. It's not flesh or body or anything else. It's still only bread.
I guess Paul and the early church were just not privy to the magic formulae --