In Him we Jews have been made heirs, having been chosen beforehand in accordance with the intention of Him whose might carries out in everything the design of His own will,

in which you once lived in accordance with the spirit of this present world, and the mighty prince of the air, who is always at work in the disobedient, among whom all of us, we Jews as well as you heathen,

All of us [Jews] also once lived among such people, fulfilling the improper cravings of our physical being and doing what our bodies and minds desired. In this natural [unconverted] state we were deserving of [God's] wrath, just like the rest [of mankind].

So, you Gentiles by birth should remember what you once were. You are called "Uncircumcision" by those who are called "Circumcision" [i.e., the Jews], (which refers to a physical procedure performed by people).

For He is our peace--He who has made Jews and Gentiles one, and in His own human nature has broken down the hostile dividing wall,

by abolishing in His fleshly body the [entire Jewish] law of commandments contained in decrees. [This was] so that He could create in [unity with] Himself one new person [i.e., the church] out of the two peoples [i.e., Jews and Gentiles], thereby bringing about peace [between them].

thus effecting peace, and to reconcile Jews and Gentiles in one body to God, by means of His cross--slaying by it their mutual enmity.

And Christ came and preached peace to you [Gentiles], who were far away [from God], and peace to those [Jews] who were near [to Him].

because it is through Him that Jews and Gentiles alike have access through one Spirit to the Father.

[it is this:] that the Gentiles are now joint heirs [with the Jews] and members of the same body, and joint partakers [sharing] in the [same divine] promise in Christ Jesus through [their faith in] the good news [of salvation].