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1.
a foreign accent for shit
i nead to go takee a hugee shiuut

give eme my matth shiut
by kickock January 16, 2008
 
2.
A general reference to anything pirates did in abundance.
Guy 1: "Man, This dark spiced rum is awesome."
Guy 2: " Yea, I am sure pirates used to drink the hell out of that shiut."
by Sunwukung420 August 14, 2011