John and Lawrence
Hawking proposes black holes emitts particles:
. I. V. Volovich, V. A. Zagrebnov and V. P. Frolov, Quantum particle creation (Hawking effect) in nonstationary black holes, Theoretical and Mathematical Physics, http://www.springerlink.com/content/k7466h61j25r3164/
I think here more on global cosmic dynamics. Here idea is proposed that in black holes inside Schwarzschild radius where density of mass is extremely high and density of space is extremely low mass is disintegrated in quanta of space. Quanta of space are "fundamental elements" of energy that builds up elementary particles.
In outer space where quantum space is extremely dense quanta of space get formed into cosmic rays.
"Enigmatic for many years, cosmic rays are now known to be not rays at all, but particles, the nuclei of atoms, raining down continually on the earth, where they can be detected throughout the atmosphere and sometimes even thousands of feet underground".
. Michael W. Friedlander, A Thin Cosmic Rain - Particles from Outer Space, Harward University Press (2000) http://www.hup.harvard.edu/catalog/FRITHI.html
Transformation "mass - quanta of space - mass" is permanent. Universe is a system in a permanent dynamic equilibrium without beginning and with no end.
According to the first law of thermodynamics energy of the universe cannot be created and not destroyed, it can only be transformed. The sum of energy in the universe is constant.
Expanding of the universe is the result of high density of quantum space in outer space. High dense space is expanding similar as a high dense gas. With a continuous creation of elementary particles in outer space amount of mass in the universe is increasing and cosmic space is getting less dense. This process is more intensive as a transformation of mass in quanta of space in centre of black holes. Process of continuous creation of particles in outer space increases presence of mass in the universe, ends expansion and starts contraction. Universe shrinks in huge back hole where mass will be transformed into quanta of space. Density of quantum space will extremely increase; this will lead to the new "big bang".
Gravity rules permanent cosmic dynamics of expansion and contraction with transformation of mass in quantum space and vice versa.