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A patently absurd or ridiculous statement. Especially when made by a person in power or with enough status that he should know better.
Tony Blair: "Saddam has the capability to strike at UK troops in Cyprus with just 45 minutes warning".

Jim: "Man that limey fuck is talking some prime weapons grade bullshit"

G.W. Bush: "Iraq is a threat, they have weapons of mass destruction".

Aisling: "The only thing weapons grade is the bullshit that dude talks"
by Takashi Kimiwada October 09, 2006
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