When it was announced in late November that Mark Carney would become head of the BOE (a move only Zero Hedge predicted accurately), we said that one has to be insane to be buying the GBP at those levels. Sure enough, it took just two short months before the implications of yet another Goldmanite's pro-inflationary policies would become apparent. To wit: KING SAYS BOE IS READY TO PROVIDE MORE STIMULUS IF NEEDED KING SAYS QE WAS CRUCIAL IN AVOIDING U.K. DEPRESSION KING SAYS U.K. BANKS SOME WAY FROM CONVINCING MARKETS ON SAFETY KING SAYS POUND DROP WAS NEEDED FOR U.K. REBALANCING KING: U.K. 4Q GDP ALMOST CERTAINLY ... (full story)