(rims, that is)
A reference to the Beverly Hillbilles theme (“oil, that is”, “Hills, that is”).
The Beverly Hillbillies went from rags to riches just like Jay would years later. Jay “struck oil” with his radio friendly songs and attained the same “swimming pools and movie stars” lifestyle that the Clampetts did
Jay-z uses this line to clarify that his mind is working like the “rims,” which are perpetually spinning, rather than the “homey” referenced two lines above, who may either not be working or may be working outside the law
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