An archaic or dialectal variant expressing contempt or dismissal; to treat with scorn.
Possibly from Old French 'foutre' or related to the imperative expressing rudeness. Its exact etymology is obscure, but it survives in phrases expressing disdain.
This word is so old and offensive that it's mostly disappeared from English, but it lives on in the phrase 'not worth a fute'—a medieval way of saying something has zero value.
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