On 06/21/2011 01:59 PM, sawyer x wrote:
> it means "i may be talking out of my ass" (or "arse" if you're british :)

That.

I never heard it before either, but a Google search for that acronym 
returned two hits, both of which conform to this usage.

If an acronym can both obfuscate profanity and compress a colloquialism, 
chances are someone has already used it.
- Dotan



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