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1.
The usage of 'thats only' has the exact same effect of the phrase, 'so to speak', but with a humorous hint to it.
Man1: "I'm going to take a spin, thats only, on the ol' hypermotard".

Translation: "I'm going to take a spin, so to speak, on the ol' hypermotard".

Man2: "Are you, thats only, the master of your domain?"

Translation: "Are you, so to speak, the master of your domain?"
by Nitedoosh December 21, 2010