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When someone has something inside "multiple bag levels", like a bag inside a wallet inside a purse inside a backpack. It's usually very frustrating for everyone.
Mick: Drop me some dough?
Mike: A'ight.
(Opens backpack, finds bag, opens bag, finds wallet, opens wallet, finds money)
Mick: Yo, it's like bagception up in here!
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To own a bag, that's inside a bag, inside another bag. Often used when girls carry a wallet inside a purse of a backpack.
Bag Bagception
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