John Abernethy: Situation in Europe is looking highly dangerous. Draghi was saying he's concerned about inflation of 1% in Europe. Well, guess what, he might get 2-3% if the oil price goes up another $10 and stays there for 6 months. And if the Ukraine boils over and gas and energy supplies are cut to Europe out of Russia, then we've got a serious situation developing. It belies where stock markets are sitting around the world. We've got record prices in Germany. We've got near record, if not records in America. We've got an inflated market in Japan where they're printing $1 Trillion per year. Now any logical person would say this is looking highly dangerous. Now if bond markets retreat under the threat of inflation and it overpowers the central bank of Europe to hold them, then we've got serious issues in markets. (VIEW LINK)