GLOBAL FINANCIAL MELTDOWN
An investigative report of the September 2008 global economic crisis. A look at the world of greed and recklessness that led to financial collapse.
First we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne.
The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Additionally, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' - giving bankers a free hand in the marketplace.
All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse.
The Shamittah
The Shamittah which occurred just after 9/11 on the Feast of Trumpets:
Deuteronomy 15:1-2 says:
"At the end of every seven years thou shalt make a release [shamittah], And this is the manner of the release [shamittah]: Every creditor that lendeth ought unto his neighbour shall release [shamat] it; he shall not exact it of his neighbour, or of his brother; because it is called the LORD’S release [shamittah]."
The Hebrew "shamita" or "shamittah" (literally: "release") begins on the first day of the new Sabbatical Year or seven year cycle. Personal debts are considered forgiven as of the end of this 7th year. This day also ends the year long rest of the land which was mandated in the Law of Moses for the Land of Israel (Ex. 23:10-11; Lev. 25:1-7; Deut. 15:1-9, 31:10-11). The land rests during the seventh year, just as no work was to be done on the seventh day.
The Hebrew Calendar has two different New Years: One for the Biblical Feast Days which begins on the first of the seven feasts, Passover (during the March / April time frame; The Biblical month of Nisan, also called Abib). The other is the Civil Calendar that begins during the Feast of Trumpets (Rosh Hashanah, which means "the head of the year") on the first day of the Jewish month of Tishrei (September / October time frame). The first of Tishrei is when the numbered year changes, and this date is most significant for determining the Shemittah (release) and Yovel (Jubilee) years. Jubilee's come after 7 Shemittahs (49 years), at the beginning of the 50th year on the 10th of Tishrei which is the Day of Atonement (Yom Kippur).
Today the Jubilee is not observed, because all 12 tribes must be present in the land, but all of the 12 cannot be identified at this time. In my research I have not yet been able to pen down the lateset and next Jubilee. Some believe the last Jubilee was on September 27, 2001, and some believe it will be on September 23, 2015, just after the next Shemittah.
The Shemittah is still observed in contemporary Judaism. Since the reestablishment of Israel in 1948 the Shamittah years have been observed in 1950-1951 (The Hebrew calendar year of 5712), 1958-1959 (5719), 1965-1966 (5726), 1972-1973 (5733), 1979-1980 (5740), 1986-1987 (5747), 1993-1994 (5754), 2000-2001 (5761), 2007-2008 (5768), and the next Shamittah will be 2014-2015 (5775).
It is very interesting that when the New York Stock Exchange (NYSE) reopened on Monday, September 17, 2001, just 6 days after 9/11, that the Dow Jones Industrial Average (DJIA) closed down 7%, having fallen 684 points by the end of trading. It was the biggest-ever one-day point decline up until that time. By the end of the week, the DJIA had fallen 1369.7 points (14.3%), its largest one-week point drop in history. It cannot be a coincidence that by the time the NYSE closed on September 17, 2001 it was Tishrei 1, 5762 in Israel on the Feast of Trumpets (Rosh Hashana) which was also the Shemittah, the day of the release of debts. (See September 2001 Calendar with Biblical months, days and feast days)
But that's not all! Seven years later and on the next Shemittah on September 30, 2008, in Israel, the 29th in New York the same thing happened again. The Dow Jones Industrial Average lost 7% again, this time having dropped 777 points. Approximately $1.2 trillion of the market value was lost. (See September 2008 Calendar with Biblical months, days and feast days)
Here is a list of the top 10 largest one-day point declines of Dow Jones Industrial Average [DJIA] ever:
| DATE | CLOSE | CHANGE | PERCENT |
| 9/29/2008 | 10,365.45 | -777.68 | -6.98% |
| 10/15/2008 | 8,577.91 | -733.08 | -7.87% |
| 9/17/2001 | 8,920.70 | -684.81 | -7.13% |
| 12/1/2008 | 8,149.09 | -679.95 | -7.70% |
| 10/9/2008 | 8,579.19 | -678.91 | -7.33% |
| 8/8/2011 | 10,809.85 | -634.76 | -5.55% |
| 4/14/2000 | 10,305.77 | -617.78 | -5.66% |
| 10/27/1997 | 7,161.14 | -554.27 | -7.18% |
| 10/22/2008 | 8,519.21 | -514.45 | -5.69% |
| 8/4/2011 | 11,383.68 | -512.76 | -4.31% |
The top 3 losses in red on the above chart fell on 2 of the 7 Biblical feast days, Trumpets (a picture of the Rapture of the saved) and Tabernacles (a picture of the Millennial reign of Christ). Two other top loss days also in red fell on the Day of Atonement (a picture of the Tribulation), and on "the saddest day in Jewish history," the 9th of Av:
1. September 29, 2008 was the Feast of Trumpets (Rosh Hashana) when the market lost 777 points (Sabbatical or Shamittah Year).
2. October 15, 2008 was on the Feast of Tabernacles (Sukkot) when the market lost 733 points.
3. September 17, 2001 was the Feast of Trumpets (Rosh Hashana) when the market lost 684 points Sabbatical or Shamittah Year.
4. October 9, 2008 was on the Day of Atonement (Yom Kippur) when the market lost 678 points (the 5th greatest one day loss ever).
5. August 8, 2011 saw a loss of 634 points. It was the day of fasting and mourning the destruction of both Temples first by the Babylonians in 586 B.C on the 9th of Av, and again in 70 AD by the Romans again on the 9th of Av.
The Buttonwood Agreement:
A very interesting side note at this point is that the New York Stock Exchange (NYSE) can be traced back to the signing of the Buttonwood Agreement on May 17th, 1792,
just 3 years after the founding of the United States. The Buttonwood Agreement was struck by a group of 24 stockbrokers, bankers and merchants at 68 Wall Street, under a buttonwood tree. The first company to be listed was the Bank of New York. The most interesting thing for our purpose is the fact that a buttonwood tree is just another name for a sycamore tree. The Buttonwood Agreement was signed just 2 or 3 blocks from where a bronze sculpture of the root system of the Sycamore Tree that was struck down during the 9/11 attack stands. This is the tree that protected St. Paul's Chapel, the oldest standing structure in NYC, where President Washington, the House and Senate went to pray after Washington's inauguration which is also just a few blocks from the NYSE. Read more about this HERE.
It appears that the LORD is using the New York Stock Exchange as a point of reference in His warning of the people of the United States of America of His impending Judgement!
The Shemittah of 2015 will Coincide with Signs in the Heavens:
On the 4th day of Creation "... God said, LET THERE BE LIGHTS IN THE FIRMAMENT OF THE HEAVEN to divide the day from the night; and LET THEM BE FOR SIGNS, and for seasons, and for days, and years." (Genesis 1:14)
Again the Bible says, "And I will shew wonders in heaven above, and signs in the earth beneath; blood, and fire, and vapour of smoke: The sun shall be turned into darkness, and the moon into blood BEFORE that great and notable day of the Lord come: And it shall come to pass, that whosoever shall call on the name of the Lord shall be saved.." (Acts 2:19-21)
And again in the New Testament, the Lord Jesus said, "And there shall be SIGNS IN THE SUN, AND IN THE MOON, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring; Men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken. And then shall they see the Son of man coming in a cloud with power and great glory. And WHEN THESE THINGS BEGIN TO COME TO PASS, THEN LOOK UP, AND LIFT UP YOUR HEADS; FOR YOUR REDEMPTION DRAWETH NIGH." (Luke 21:25-28)
There have been 7 special Lunar Tetrads since the Lord Jesus Christ walked the earth, and there is an 8th coming up in the 2014 / 2015 time frame. The word tetrad is synonymous with the words quadruplet and four. It is defined as "a group or arrangement of four." So a Lunar Tetrad is an arranged grouping of four total lunar eclipses. The arrangement of tetrads we are referring to is as follows: Total eclipses during 2 consecutive years on the first and last of the 7 "feasts of the LORD" (Leveticus 23:4). The first and last of the 7 feasts are Passover and the Feast of Tabernacles. A total eclipse is also called a "Blood Moon" (See the time accelerated animation of a Blood Moon to the right). The Blood Moon is mentioned in both the Old and New testaments (cf. Joel 2:31, Acts 2:20, Rev. 6:12).
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