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Last year of Shmita was 2007. Next year of Shmita begins in Sept. 2014. Fact two: Year of Jubilee happens in 50 year cycles, following the 7th year of Shmita. In Jubilee, all debts are supposed to be cancelled, all land is supposed to be returned to its original owner. Liberty is proclaimed throughout the land.
This cycle corresponds fairly closely to 151 Mars orbits, 284 Earth orbits, and 133 synodic periods, and is analogous to the cycle of transits of Venus from Earth, which follow a cycle of 243 years (121.5, 8, 105.5, 8). There are currently four such active series, containing from 8 to 25 transits.