Bilge

n.  1.  area on the outer surface of a ship's hull where the bottom curves to meet the vertical sides.

2. nonsense, rubbish (from bilge water - the filthy water that collects in the bilge.)

"Gadzooks!  The bottom of my ship is full of dirty swilling waters!"

"That's bilge, Sir."

"How dare you!  Men, throw Gadzooks in the prisony cell thing until he learns some manners!" 

"The brig, Sir?"

"Oh shut up or you'll all be in there!"