I'm about to get rid of some hoes, it's simple
I'm quick to murder ink with lead and I ain't talkin' bout a pencil
This line is crazy dense.
He’s going to murder Murder Inc. (Ja’s record label). Building off this statement, he says he’s going to murder the “ink” with lead, since pencil lead is the most popular alternative for writing next to ink.
However, when he says he ain’t talking ‘bout a pencil, he makes it clear that he’s referring to lead bullets, which he’ll use to commit said murder.
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