Bitwise operation

How are simple operations like adding and subtraction represented using only bitwise operators such as &, |, ^, >>, ~, and <<?

Also, do each of the bitwise operators perform at the same rate, or are some faster than others?

>>14
Perhaps, Austin Powers: smooth operator.
>>16
It should be printing a ETX char for "1" ^ "2", not sure why you are getting a ".  I'm pretty sure it performs the operator the ascii values, i.e.

$ php -r 'echo "yO-ZZV"^"V?_5=y","\n";'
/prog/