In October, just after the Jewish new year, an initial wave of panic briefly struck global financial markets.
From WorldNetDaily article, "Shemitah's First 2 Weeks Bring Ominous Signs":
Without a doubt, the Shemitah year, which kicked off on Sept. 25, has begun with a blast of bad news.
Cahn predicted in “The Harbinger” that America would come under judgment in the wake of the 9/11 attacks because, rather than being humbled mystery_shemitahand repentant, the nation doubled down on abortions, pornography and the removal of prayer and all things Christian from the public square.
In the “Shemitah,” he reveals that judgment comes to a backslidden nation in accordance with a seven-year cycle that correlates with the Hebrew calendar. In Leviticus 25, God commanded the Israelites to observe a Sabbath year once every seven years in which they would let their land lie fallow, while in Deuteronomy 15 He instructed them to cancel debts in line with this same seven-year timetable.
Cahn explains that the seven-year cycles can manifest as blessings as long as a nation follows the will of God. But for those that started out under God only to later stray, the Shemitah can bring a series of ever harsher judgments, usually striking in the financial realm and spilling over into the political and military arenas.
“In The Mystery of the Shemitah – I show how the Shemitah has caused financial and economic collapse throughout modern times,” Cahn told WND. “And the phenomenon has been intensifying – with the last two Shemitahs manifesting the phenomenon with uncanny precision.”
The two previous Shemitah years occurred in 2000-2001 and 2007-2008.
Before the ultimate judgment comes, God often sends a series of warnings or “shakings” meant to get the attention of believers and nonbelievers alike.
The Shemitah year was also called the year of “release” in biblical times because the land was allowed to rest and the financial accounts were wiped clean once every seven years.
Only two weeks into the new Shemitah year of 2014-2015, the U.S. stock market has already shed hundreds of points.
Meanwhile, throughout the last half of 2014, oil prices have plunged by more than 50% (follow link for related article):
The move in crude these past six months is now nothing short of astounding. At about $52 current prices (which will probably move in either direction significantly by the time this is posted) the collapse from the recent peak now equals only past, significant global recessions under the oil regime that began in the mid-1980’s.
These are leading indicators of a coming global financial and economic collapse of biblical proportions that will ensue in 2015, possibly from the very outset.
A creative era of greed, expansion and debt/money/price inflation is coming to a close and a destructive era of fear, contraction and debt/money/price deflation is beginning.
Only through God will collective sanity be realized.
Forgive our debts, as we forgive our debtors...
This world's debts will be "released"....one way or another...