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The bull is off the nickel

"Bull" is being used as a double entendre -- meaning both the animal shown on the nickel and the other meaning of stupid or untrue talk or writing; nonsense. So, the bull is coming off the nickel and being applied to the situation at hand. The situation at hand being nonsensical.

This obscure phrase is famously used in the Twilight Zone episode "Mr. Garrity and the Graves". Rod Serling, in the intro, uses this expression in referring to Jared Garrity, who makes a living restoring life to the dead.
"Mr. Garrity, if one can believe him, is a resurrecter of the dead - which, on the face of it, certainly sounds like the bull is off the nickel." -- Rod Serling

Amazon Basics 50 Liter / 13.2 Gallon Soft-Close, Smudge Resistant Trash Can with Foot Pedal - Brushed Stainless Steel, Satin Nickel Finish 

Another way to call someone a waste of oxygen.
Jogn: Bro Ezra you're such a Amazon Basics 50 Liter / 13.2 Gallon Soft-Close, Smudge Resistant Trash Can with Foot Pedal - Brushed Stainless Steel, Satin Nickel Finish
Ezra: Stfu Jergens Ultra Healing Hand and Body Lotion, Dry Skin Moisturizer with Vitamins C, E, and B5

Rocks Like Nickelback 

This phrase, made popular by the nu-metal band Nickelback, can mean one of two things, both however have the same underlying meaning.

1. A phrase almost always used sarcastically to denote how much something sucks
2. A phrase used to denote something good, but also used sarcastically because Nickelback really does suck
1. Andrew: "Man we just lost that game 86 to 53."
Jim: "Yeah that really Rocks Like Nickelback."

2. Paul: "Dude I just got the goods."
Time: "Man that Rocks Like Nickelback."

nickelback'd 

Paying more than you should for the watered down version of something that has already been done many years ago
Trucker hats:

Trucker hats were authentic back in the 70s and 80s, they were serious, now they come back and they're all "ironic" and cost forty bucks. its been cleaned up and the price went up 400%
nickelback'd by Rideout March 24, 2004

nickelbacking 

exposure of a cat's anus (shitty, like the band) generally exposed during a petting session when he turns his butt toward your face and raises his tail. It is not a good experience, but you figure the cat must be ignorant of how awful it is, because no creature would willingly torture someone in that way (shitty, like the band)

also his butt is round (like a nickel!) and on his backside..
You: "Goddammit the cat is nickelbacking me again"
Me: "Well at least it's not quite as shitty as the band"
nickelbacking by blourtney13 April 1, 2010

Nickelodeon

An ex-good TV show network. Used to have good shows like Hey Arnold, All That, Kenan and Kel, Are You Afraid of the Dark, Clarissa Explains It All, ect, but now sucks with new crap shows such as Victorious (wtf?) iCarly (double-wtf?) and Kung Fu Panda (WTF?), ect. The only parts that are even halfway decent to watch is Nick@Nite, which just shows reruns of shows from MTV, TBS, or other shows they didn't create, or 90's Are All That, which shows reruns of Nickelodeon shows from the 90s, a.k.a it's FORMER (keyword FORMER) glory.
Stevette- Wtf iCarly is on again! It isn't even funny, if that was a real webshow nobody would watch them! Why are all these new Nickelodeon shows crap!

Charle Jame- Ikr! What happened to all the good shows like Kenan and Kel! It's like Nick got rid of all the good shows!

Stevette- I can't believe some people watch this shit! I'd would rather watch the DISNEY channel than this!

Charle Jame- So would I! Wow, if we would rather watch the Disney channel than this, then Nick must have gone seriously wrong somewhere!

Stevette- Totally, right! Let's swtich the channel!

Charle Jame- Lets! Oh, look, here's a good show on another channel!