A shortening of the phrase truer words have never been spoken, which in its full length is pretty self explanatory.
Mark: It doesn't matter where you go, money is the universal language.
Mike: Truer words...
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it's a saying to those who live up to what they are being called (like a really caring person or loving father) because no one else has said it before.
for example; I know no truer words were ever spoken but you're a really good friend.
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