It is an act of stealing petty goods from a gullible owner to sell it in pawn shops. The term is first used in a tamil movie, rendu (2006) when Vadivelu and Maddy steals from the Auto driver.
Madhavan: Hey, the project expenses are too much. How are we gonna afford it?
Vadivelu: "Paper-Liquid"
Maddy: you don't even have a job, how are you managing your finances?
Vadivelu: I have paper-liquided lot of things from my friend
Fogey/fogy /fougi/ sl. (early 18C+, orig. Scot) old-fashioned, stuck-in-the mud.
Person with old fashioned ideas which he is unwilling to change: Come to the disco and stop being such an old fogey!
You think me an old fogeyand an old tory, his thoughtful voice said. I saw three generations since O’Connel’s time. I remember the famine. Do you know that the orange lodges agitated for repeal of the union twenty years before O’Connel did or before the prelates of your communion denounced him as a demagogue? You fenians forget some things. (James Joyce, Ulysses. PenguinBooks,1992. p. 38)