Internet term for "Oh, really now?"
used as more of a joke than a question in most cases. It originated from an internet meme The orly owl and was carried off into various slang and/or leetspeak (1337).
A good example of where this term may be used is the popular website, 4chan (since most internet memes were basically generated from 4chan).
The usual response to this phrase is Yarly or Ya rly.
Person one: Hey, Joe. I just got the new maps for halo 3.
Person two: Orly nao?
Person one: Yarly.
Someone who is addicted to obtaining money and building wealth. A money addict and fanatic. Breadheads often work more than one full-time job, and some even participate in illicit activities to "obtain the bread".
I don't buy the schmegegge about Morty sleeping with Moira.
His version of the story was pure schmegegge.
The whole schmegegge was made up to get Liz a little bit of attention.