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I would say that peace, at its deepest Biblical level, is harmony between a holy God and humanity. That harmony was universally broken when humanity fell into sin by willfully disobeying God's command -- a predisposition that was then passed down to all subsequent human generations. That disobedience required a penalty, which was separation from God, both through temporal death and eternal spiritual (and ultimately physical) separation. Only God was capable of restoring that peace without compromising His holiness, which He did by incarnating Himself as a Being who was both truly God and truly human; having Him live a sinless life, die an atoning death (in which He paid the penalty for humanity's sin from eternity past to eternity future), and then rise again from the dead to live eternally, and to thereby demonstrate that His death had fully satisfied God's justice. Anyone who placed their faith in that atonement (rather than in their own insufficient attempts at righteousness) could therefore (although they would still continue to sin, as well as to be subject to temporal death) have the assurance that they too could be forgiven by God, as well as have eternal life -- spiritually and ultimately physically. Because of the eternal nature of that existence, it provides a peace that dwarfs any misfortune or disaster that can befall any individual during their brief existence in this temporal life and world.
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