29:12a Both riches and honor come from You, and You are the ruler over all.

You(sing) give riches and respect/honour to whoever you chose. You rule all things;
-or-
You(sing) make people rich and powerful. You are the one who rules over everything.

29:12b In Your hands are power and might to exalt and give strength to all.

therefore you(sing) have the strength and power to make anyone great and strong.
-or-
You(sing) decide who to make strong because you are strong and you have all power.

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