Translation: There is One Creator who has created this Creation. [bad word] is His name. Ecstatic beyond words is his wisdom and guidance.

Laya form of Adi Shakti mantra 
The Buddhi Mind gives discernment about what is real and from your own essence. gives you intuition to see through time-too strong 
and you leap into good work or push as good thing at the wrong time or you [bad word] preachy and pushy, impatience lead to poor judgement, 
nor see the full impact of your actions since you are convinced they are positive. Chant will bring your soul and destiny present.
It will suspend you above conflicts attracted by success and the activity of the Positive mind.

Approximate translation of the first line:  

Infinite Oneness creates Creation, that [bad word] elicits the blessings from Light!

That God and We are One!

This mantra is a gutka shabd (sacred sound that cuts through)—one that reverses the mind.  It is the essence of the Siri [bad word] Granth Sahib (the Sikh scriptures).  If the mantra is chanted just five times, it will stop the mind and put it into reverse gear.  The Siri [bad word] will sit in your heart.  It can stop anything negative.  It is so strong that it elevates the self beyond duality and establishes the flow of spirit.  This mantra makes the mind so powerful that it removes all obstacles.  Its positive effects happen quickly and last a long time.  It needs to be chanted with reverence, in a place of reverence.  This mantra brings great intuition to the practitioner (listening to Soul’s guidance and feeling Its love).  After chanting this mantra, anything you say will be amplified and created with great force.  So have a positive projection and do not say anything negative.

Normally when you chant mantras correctly, you benefit, and when you chant them incorrectly, they don’t have any ill effect.  But if you chant this mantra incorrectly, it has a backlash.  Normally we invoke the sacred before practicing this mantra.  Chant the Mul Mantra* or the Mangala Charn* mantra before practicing it.

Yogi Bhajan:  “Ek Ong Kaar Sat Gur Prasad (etc.) is the most powerful of all mantras.  There is not anything equal to it nor can anything explain it.  Ek Ong Kaar, Sat Gur Prasad(etc.) is the pritam mantra.  The entire Siri [bad word] Granth Sahib is nothing but an explanation of this Mantra.”Yogi Bhajan, April 26, 1976