This paper follows the earlier paper Part I: Veringa, H. J. (September 2016), New Basic Theory of Gravity, Journal of Modern Physics 7 (1818-1828) in which a new model to describe the gravitational interaction between particles and its consequences on the attractive force between two masses is proposed. The basis for the analysis is a merger of Quantum theory and Relativity. Nowhere in the analysis, there is any need to deviate from well proven and successful concepts of both theories and rules of calculation, and no exotic new particles will have to be introduced. By doing so, it is demonstrated that, next to its local interactions of a multi-particle system, the Schrödinger equation leads to pairs of two and only two members. This solution is used as the invariant term in the quantized Dirac equation which gives gravitational interactions between members of the pairs. With this particular solution for the quantum-mechanical wave function, it is found that gravity is a second order effect operating over a long range. The emphasis of this paper is on the more precise justification of some of the basic assumptions made, on the historical context into which it should be placed, how it affects the ordering of our immediate environment and works on a cosmological scale. It is also found that the generator of gravity is contributing mass to particles that have gravitational interaction. This contribution is therefore related to cosmological parameters and will be further elucidated.