They were not taken out of context. The context is provided with the quote.
This is where you've taken it out of context. Bold comments are mine and not Scripture.
James 2:19-24
But someone may well say, “You have faith and I have works; show me your faith without the works, and I will show you my faith by my works.”
19You believe that God is one. You do well; the demons also believe, and shudder.
this belief by the demons is not the belief Christians have in Christ. it is intellectual belief. not saving belief.
20But are you willing to recognize, you foolish fellow, that faith without works is useless?
notice James doesn't say you don't have faith. it's just useless, dead, or unprofitable.
21Was not Abraham our father justified by works when he offered up Isaac his son on the altar?
Let's keep the timeline in perspective here as this will clear up the misunderstanding.
Genesis 15:6..The he believed in the Lord, and He reckoned it to him as righteousness.
The Greek indicates he is made right. In other words his faith was made right.
Genesis 22 deals with Abraham and Isaac. Genesis 22:1 notes that God tested Abraham. No where does Scripture suggest God was going to take Abraham's faith away if he failed the text. And no where does Scripture say God ever takes away our faith. No where.
As we know Abraham passed the test, justifying the faith he had in God.
James goes on to state that his faith was perfected. Abraham, because of his belief in God, trusted that God would fulfill His end of the Covenant that Isaac would be his heir one way or the other.
22You see that faith was working with his works, and as a result of the works, faith was perfected;
23and the Scripture was fulfilled which says, “AND ABRAHAM BELIEVED GOD, AND IT WAS RECKONED TO HIM AS RIGHTEOUSNESS,” and he was called the friend of God.
24You see that a man is justified by works and not by faith alone.