These sources usually involve compact objects: black holes, neutron stars, or white dwarfs. Compact objects are produced  after stars expend all of their fuel, so that the pressure from nuclear fusion in their cores can no longer support their own self-gravitational attraction. When this happens the stars collapse — they shrink in radius until quantum-mechanical forms of pressure prevent further collapse, forming either a white dwarf (about the size of the Earth) or a neutron star (about 10 km in radius) with a mass close to the Sun's mass. When the most massive stars collapse, they instead form black holes: the gravitational field produced by compressing so much mass into so small a volume becomes strong enough to prevent light from escaping its "surface". All of the material of the star is compressed to a nearly infinitesimally small volume at the centre of the black hole. The resulting super-strong gravitational field has closed off a region of space from the rest of the universe (for a solar-mass black hole, this region is about 6 km across). The black hole itself is not made of any physical material — it is simply a region in space and time that is separated from the rest of the universe by a one-way membrane (the event horizon) through which anything can enter, but nothing can escape.

While the collapse process itself produces gravitational waves, the strongest waves are actually produced from two compact  objects that are orbiting each other in a binary system. (Most stars are in binaries since their initial formation). The orbital motion of the two compact objects produces gravitational waves, just as moving your finger through still water produces water waves. The binary responds by shrinking, orbiting faster, and producing even stronger waves. Eventually the compact objects get close enough to merge into a single object (a black hole or neutron star), producing an enormous burst of  gravitational waves in the process. This process is so powerful, that the luminosity of a black hole collision is greater than the combined electromagnetic luminosity of all the stars in the universe combined. (Even more interestingly, this statement is true regardless of the mass of the black holes.)

Unfortunately, even the strongest astronomical sources of gravitational waves are very difficult to detect. However, a recent  experiment called LIGO (Laser Interferometer Gravitational-wave Observatory), along with its international partners, will  likely detect gravitational waves in the next few years. To understand how gravitational-wave detection works, it is important to understand how a passing gravitational wave affects matter. While an electromagnetic wave causes an oscillatory  displacement of charged particles perpendicular to the waves' motion, a passing gravitational wave causes an oscillatory ellipsoidal stretching and squeezing of matter (also perpendicular to the wave's motion; see the diagram at right). In a gravitational-wave detector like LIGO, the distance to two large mirrors (each oriented in a 4-km-long "L" shape) is monitored with lasers to detect the passing wave. Remarkably, even for the strongest sources, the gravitational wave will move the mirrors by less 1/1000 the size of a proton — an exceedingly small distance! But the magic of laser interferometry  allows such miniscule distances to be measured.

In addition to LIGO and the other ground-based detectors, there are also plans for a joint NASA - ESA mission called LISA  (Laser Interferometer Space Antenna). This involves three spacecraft (separated by 5 million km) that will use interferometry  to measure their relative separations. If funded, LISA will detect an incredible number and variety of gravitational wave sources.

Doesn't it point to what CC makers are trying to communicate us? Leaving all other issues like research on  alternative energy sources, solar power, cold fusion etc, what the heck they are up to detecting a gravity wave? One could  imagine the resources & efforts put behind any such project. why, why & why??

Well the interpretation of the CCs as two interacting black holes to merge into a single one could be 50-50 as I myself  associated it with Earth's spin earlier. But the very next 3 formations changed my views. Before moving onto other  formation, let's go through a few quick pictorial reference (attached) to understand the phenomenon properly.

The wave produced will interact both at the matter (Gravity wave for twisting of Plank's constant) & waveform/level (EM radiation will twist the electro-magnetic field). According to Einstein's atom quantum theory,It will synchronize the Space-time of matter  & field along the along the 3 axis. These 3 quantified wave fronts are represented as 3 light's spheres in the theory.

Now why the crop circle wants us to understand the phenomenon?

The most intense type of electro - magnetic - gravity wave in our galaxy has to be generated from the core which is  the most densely packed black hole interacting with some closer one.

They have confirmed the fact in later circles for which pictures are attached...

Dipender Chhikara