As noted in my April blog, "Jonathan Cahn: The Harbinger", there is an intriguing phenomenon surrounding the date of Elul 29 on the Jewish calendar. As Rabbi Cahn discovered and spelled out in his book, The Harbinger, on this last day on the Jewish calendar in the last two Sabbatical Years, 2001 and 2008 (Sabbatical Years occur every seven years under Jewish tradition), two of the three largest point drops in the DJIA in stock market history occurred:
The plunge of just over 7 percent or nearly 700 points on 9/17/01, or 29 Elul 5761 on the Hebrew calendar, occurred in response to the 9/11 attacks. The drop of 777.7 points or 7 percent on 9/29/08, or 29 Elul 5768 on the Hebrew calendar, took place in reaction to the U.S. Congress failing to approve the first vote for a Wall Street bailout during the financial crisis that year.
As pointed out in the section of my April blog dubbed, "The Mystery Of The Shmita & The Septennial Sabbatical Cycle", it's an incredible coincidence that two of the three largest point drops in the Dow struck on the last day of the seven-year Jewish Sabbatical cycle. In fact, statistically the odds of this occurring are more than a million to one.
So maybe God's trying to make a point with us. What point could that be?
Consider this. 9/11 involved massive strikes against the greatest symbols of American "Capitalism and Imperialism", i.e., the World Trade Center towers and the Pentagon. These attacks against the U.S. were carried out by Islamic extremists under the guidance of Communist forces. Islam purportedly represents "submission to God's will" and Communism purportedly signifies "sharing wealth equally". In this context, one might well argue that 9/11 was a warning from God to America of the need to submit to God's will to share our wealth.
Needless to say, America, and Wall Street in particularly, failed to learn any lesson from 9/11.
Thus, unrestrained greed ran amok for another cycle and what emerged was a sub-prime mortgage bubble that epitomized financial corruption throughout our society. Eventually the bubble burst, however, and when Wall Street didn't get the bailout it wanted from Main Street on 9/29/08, the second Elul 29 crash struck. So too did a prolonged economic collapse as American Capitalism seemed to fail.
Yet, just as the 'Harbinger' prophecy from Isaiah 9:10 foretells, God's people still fail to get the divine message:
but we will rebuild with dressed stone;
the fig trees have been felled,
but we will replace them with cedars.”
As President Obama puts it:
The truth is that rebuilding in contravention to God's will is ultimately futile.
I think what's key here is what Jews are called upon to do on the last day of the Sabbatical Year, Elul 29th:
When the Shmita (Sabbatical) year ends, personal debts which are due during that year are considered nullified and forgiven. The Book of Leviticus promises bountiful harvests to those who observe the shmita and makes observance a test of religious faith. [Wiki]Are the "creditors" of this world forgiving debts as their debts were forgiven by Christ?
I think not.
Now the question is, how is God the Author of this story in which we dwell going to respond to such disobedience?
I can't say for sure, but it seems I've long been pointing out a likely source of a future upset. If Russia is indeed misleading the West and utilizing the Islamic world's hatred and anger toward us for the purpose of unleashing a surprise third world war, then this would clearly constitute a most profound punishment for our nation's sins.
Finally, this brings us to Elul 29 of this year. While I doubt God has anything planned for the date this year, since this is not a Sabbatical Year (the next year ends in September of 2015 when I expect the cycle to reach its low), what I can say is that the stock market appears to be ending a diagonal triangle pattern that in the context of the Elliott Wave Principle indicates an extraordinarily sharp reversal may be imminent. That something would occur in the wake of Ben Bernanke's offer to print more money galore seems symbolic in that the recent run-up on Wall Street in response is the epitome of misplaced faith in the false god of Mammon rather than the true God of Israel. Meanwhile, the new moon approaches just as Israel has come to believe it has no other option but to strike Iran's nuclear weapons program. In fact the new moon occurs on Elul 29, which is September 16th on a Gregorian calendar.