An exclamation, meaning "No Doubt". Usually said in response to a good suggestion or to confirm a statement.
1. BS: I'm bored as fuck man, we should go get some cold ones.
VB: No Deezy!
2. MA: Fool there's a fat party tonight.
SB: Ooooo, no deezy.
3. RJ: Didn't you nail that chick back in 10th grade?
AP: No Deezy.
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