Unfortunately, this message appears when Time Machine detects that your backups have become corrupted. When this occurs, Time Machine will erase your existing backups and start over again with a new "master" backup. So, if you saw this message a couple of days ago, your current backups will only be over the last few days.
Unfortunately again, Apple does not know why the corruption issues occur, so there is no assurance that the message may appear again at any time in the future. The problem is much more likely to occur with backups on a Time Capsule than it is on a USB hard drive that is connected directly to a Mac.
For that reason, I would suggest that you adopt a dual back up strategy with backups going to both the Time Capsule and the USB hard drive.
There is more information about this perplexing issue in the link below. It is difficult to say how many users have been affected by these corruption issues, but whatever that percentage might be, it is far too high.
http://pondini.org/TM/C13.html