Seven Years Since the Last Shemitah and Global Meltdown

“At the end of every seven years you shall grant a release of debts. And this is the form of the release: Every creditor who has lent anything to his neighbor shall release it; he shall not require it of his neighbor or his brother, because it is called the Lord’s release.”    Deuteronomy 15:1-2

The Lord’s release, hence called the Shemitah, Hebrew roughly translated as “to release.” This is why I’m doing a short topic change in the middle of the Jonathon Cahn books.  His books and message are about the Shemitah that falls every seven years.  God essentially told the Israelites that every seven years, they must let their land lie fallow – He would provide, and at the end of that seventh year to release all debts.  They could do it voluntarily or not, do it easy or hard.

There is a lot of history that goes into this discussion, which I will save for the rest of the Jonathon Cahn series I’m posting. Suffice it to say that the decided majority of US and global financial events happened either on or very close to the end of a Shemitah year.  The two greatest crashes in US history happened on the exact end day in 2001 and 2007 (as determined by the Jewish lunar calendar).  Other followed closely in the months after, in the “wake” of the Shemitah.”

Why am I interrupting this series? Because I saw an article a couple days ago that the global economy is looking like its heading for another crash.  If you’ve already done the math, you realize that 2015 was a Shemitah year, and the last day was in last September.  Nothing momentous happened that day, but if you don’t watch the news, you may have not noticed economic upheavals in China and elsewhere.

The article from the London Daily Mail online quoted the Royal Bank of Scotland as saying “Sell everything!” Why?  China continues to falter badly.  Oil that went for $130 per barrel not long ago is now trading at $30 and below.  It could go as low as $10.  Don’t get too excited about what that means for gas prices; falling oil kills the overall economy.  You need oil workers, truckers to transport the oil, parts houses, manufacturers to make those parts, restaurants and hotels to feed and house the travelling workers…there’s a whole cascade of affected economies and markets. You might not care about the gas price on the corner, if you don’t have a job to pay for it.

Today’s noon news is reporting more of the same. The DOW has dropped 1400 points year to date.  China continues its nosedive.  The retailers are down from the Christmas season.  Who would’ve thought Best Buy, with their packed lots from November through December would be reporting a 25% decrease overall?

“Analysts warned of a ‘cataclysmic year’ ahead for investors and the global economy, BP said it would have to slash 4,000 posts around the world including 600 in the North Sea.”

 “London’s top stock index saw £85billion wiped off its value after tumbling 5.3 per cent last week, during what is being dubbed the worst start to a New Year ever on world markets.”

“But RBS sounded the strongest alert, issuing advice to clients saying ‘danger is lurking out there for every investor’ and ‘the downside is crystallising. Watch out. Sell (mostly) everything.'”

“It went on: ‘In a crowded hall, exit doors are small. Risks are high.’ Adding ‘this looks very much like 2008’, RBS suggested taking refuge in US and German government bonds.”

Personally, I would take that suggestion on US government bonds with a grain of salt.  Did you know that banks returned to the very lending practices that led to the 2007 housing market crash?  As if nothing had ever happened.  After bailing our businesses that were “too big to fail”, cash reserves are depleted.  There’s no one to save them this time.

Hit the link and read the article yourself.

What can we do about it? Depends on whom you talk to.  The RBS says sell everything.  I say don’t trust government bonds at this point.  I seriously doubt either of us really know the financial answer to that.  I can echo what Jonathon Cahn says: pray.  Pray for guidance, wisdom, and protection.  That should ALWAYS be our first response to anything, good or bad news.

After that, take common sense precautions: water & food stored for emergencies as well as other supplies.

Stay with me for the rest of this series. Better yet, buy and read Cahn’s books, The Harbinger and The Mystery of the Shemitah.

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