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Now, scientists at Lawrence Livermore are challenging accepted beliefs, claiming that there's no such thing as a black hole. "It's a near certainty that black holes don't exist", according to George Chapline. According to him, black holes are actually stars made out of dark energy formed by the collapse of massive stars.
www.scienceforums.com/archive/index.php/t-2476.html
it would take an exhaustive search for me to find a suitable reference that shows how time gets converted to energy (and then from energy to mass which i assume you DO agree with). unfortunately i don't have anything handy at the ready.
instead i'll present a logical argument, and you can take any way you like. you see quite simply that E=mc^2. C is the speed of light. speed involves time (meters per SECOND), thus time is part of the equation. how to convert it to energy? what is time but the rate of change of mass as it sweeps out an area. here mass can be inertial, or reletavistic (gravitational).