Please read....This is very significant. According to my research, the Jubilee starts in 2016-2017...and Shmita starts THIS September, not last September (Sept 2014).
 
Either the calculation of the Shmita year & cycle is wrong...or the calculation of the 2016-2017 Jubilee is wrong. They cannot both be right according to Leviticus 25:8-10. There isn't really any debate about it...that's scripture. The question we have to ask as good teachers of the word is: "Which is it? Do they have the Shmita calculations wrong...or does the Jubilee actually start on Sept 23 of 2015." The Jubilee is not governed by any other date or cycle...it follows 7 Shmitas.  Period. End of discussion...so both dates can't be right. We can't have a Shmita that ends this September and a Jubilee that doesn't start until NEXT October (2016).
 
Jonathan Cahn and others have said the 7th Shmita started in Sept of 2014 and runs through this September 13th. I THINK their Shmita calculations are wrong. Here is what I have found: I think they calculated year one for the current Jubilee cycle as 1966-67. They included the year of the Jubilee (1966-1967) as the first year of the Shmita cycle. They should NOT have done this. Most info I have seen says this (and this is from WIKI):
 
"The first Shmita year in the modern State of Israel was 1951 (5712 in the Hebrew calendar). Subsequent Shmita years have been 1958–59 (5719), 1965–66 (5726), 1972–73 (5733), 1979–80 (5740), 1986–87 (5747), 1993–94 (5754), 2000–01 (5761), and 2007–08 (5768). The last Shmita year began on Rosh Hashanah in September 2014, corresponding to the Hebrew calendar year 5775."
 
Notice the error? The dates are right up until 1972-1973. One doesn't count the Jubilee year as a year....so the Shmita  cycle should have started over again in 1973-1974...NOT 1972-1973. If '66-67 was the jubilee year...Year 1 of the Shmita  cycle started in Oct (5th) of '67 (NOT '66), Year 2-Sept  '68; Year 3- Sept '69; Year 4- Oct (1st) '70; Year 5-Sept '71; Year 6-'72 Sept ....and the next Shmita year would have been in Sept of '73....not Sept '72.
 
I've attached an excel spreadsheet to help clarify. I had a feeling this might have been the problem...they started the Shmita cycle over again without adding the extra year for the Jubilee. IOW-They had a 49 year jubilee cycle instead of a 50 year cycle. What this means is that Sept. 2014 - Sept. 2015 is NOT the Shmita year. The Shmita  year runs from September 14 2015 - October 2, 2016. This means the jubilee starts October 12th, 2016 and runs to September 20th, 2017.
 
Another thing I think he messed up is the 29 Elul date (last day of the Shmita cycle he calculated). The 777 point drop was indeed on 29 Elul...HERE. However...it would have been 1 Tishri (after sunset) Israel time. They are 8 hours ahead of New York. The sunset at 6:25 PM in Jerusalem...or 10:25 AM NY time...which means the actual 777 point drop ended in the FIRST day of the Shmita cycle beginning in 2008-2009...not the last day of the miscalculated cycle, which he said was 2007-2008. The same would hold true for 2001.
 
This is important because a LOT of people are expecting a financial crash THIS year based on this information. However, if the Shmita actually starts on Sept 14th of THIS year...then we may not see any major collapse until later in the fall or even next year (but before October 2nd of 2016). Therefore, if the economy and stock market DON'T collapse in September, it's not that the Shmita cycle failed, it's that it was calculated wrong.
 
In HIM,
 
Prov 27:17
 
Nelson W. Lee
Philos Ministries

shemita cycle.pdf

shemita cycle.xlsx