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1) Getting screwed on a deal;

The phrase originated with the term 'butt raped' to describe the feeling of getting screwed on a deal. Then, it was 'butt raped with no KY jelly,' (sex lubricant) which then turned into just 'No KY'
Example: "Three fifty for a soda? No KY, man..."
by TheoDizzle June 29, 2005
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