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1.
When you have so little weed left that all that remain is powdered bits of leaf and crystal. Being next to impossible to scoop or pour it all out properly, you are forced to shake the contents of the bag into a corner, then physically cut it off - thus avoiding any waste of your last bowl. It is a sign of dire needs to pick up more pot.
"I really need to pick up more pot. We're cuttin' bags for this last bowl."

"We're at the bottom of our stash, looks like we're cuttin' bags."
by Okibi February 05, 2010