1. Phrase used when someone recieves a compliment & is confident that it is a well known fact.
2. Used when someone is in agreement with what someone else has said, and wants to give props or show mutual agreement.
1. Guy: "Yo sweatheart. That's a lil' fatty you got rite there"
Female: "I know you know."
2. Female: "Apple bottoms make them jeans that be fittin."
Female: "Girl...I know you know"
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