Another acronym that submariner's use, similar to FTN and PAPERCLIP Used to display one's disgruntled, jaded attitude towards Big Navy's disregard for an individual's (mainly junior sailor's) well-being.
Khaki: What's with the rubberband?
Blueshirt: Oh this? Uhh... I didn't realize I still had it
Khaki: You've had it on your wrist for almost all of WestPac