This phrase is similar to "already know (something)" or "have known (something) for a long time". It's used when one is too lazy to speak the proper phrase. "Been knowed" seems to have a more powerful meaning though. Like you've known something so long that it's ridiculous that the other person trying to inform you of the topic that it is utterly ridiculous.
Dina: The new Snoop Dogg video is on the countdown.
Chris: I been knowed that fool.a
by ilovepp June 29, 2005

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