Quantum Theory as emergent from an undulatory translocal Sub-Quantum Level

We argue that quantum theory is a low-energy effective theory which emerges from some sub-quantum level theory which is of an undulatory and translocal character. We show the close connection of quantum theory with both gravity and the holographic principle which are different phenomena of one and the same theory on this primordial level. An important role in our analysis is played by the concept of a generalized renormalization group connecting this primordial level and e.g. quantum theory plus a continuous space-time. We show that characteristic phenomena like the seemingly instantaneous state reduction, the EPR-paradox or the problem of polydimensions can be understood in our undulatory translocal theory in a realistic way. Most importantly, we give a realistic interpretation of the phasefunction as a collective action variable in the spirit of Bohm and explain the emergence of a macroscopic notion of time.