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Kalachakra refers both to a Tantric deity (Tib. yidam) of Vajrayana Buddhism and to the philosophies and meditation practices contained within the Kalachakra Tantra and its many commentaries. The Kalachakra Tantra is more properly called the Kalachakra Laghutantra, and is said to be an abridged form of an original text, the Kalachakra Mulatantra which is no longer extant. Some Buddhist masters assert that Kalachakra is the most advanced form of Vajrayana practice; it certainly is one of the most complex systems within tantric Buddhism.
The Kalachakra tradition revolves around the concept of time (kāla) and cycles (chakra): from the cycles of the planets, to the cycles of human breathing, it teaches the practice of working with the most subtle energies within one's body on the path to enlightenment.
The Kalachakra deity represents a Buddha and thus omniscience. Since Kalachakra is time and everything is under the influence of time, Kalachakra knows all. Whereas Kalachakri or Kalichakra, his spiritual consort and complement, is aware of everything that is timeless, untimebound or out of the realm of time. In Yab-yum, they are temporality and atemporality conjoined. Similarly, the wheel is without beginning or end.
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