In the Valencian language, xe is used as a conative interjection for calling attention to a subject, or as an expressive interjection. Used as an interjection, xe may be positive or negative in nature to express, grief, anger, frustration, surprise, joy or praise.

The Catalan/Valencian language group is spoken in the eastern Spainish regions of Catalonia, Valencia, and the Balearic Islands, as well as on the Italian island of Sardinia, and in the French département of Roussillon. Xe is the equivalent Valencian spelling of the Catalan che.

Phonetically, xe is pronounced tʃe in the Valencian/Catalan dialect. To an English speaker, this would sound like, "chay".

A quick study of linguistic references agree that the Catalan/Valencian dialect has hundreds of such interjections, most of which have no formal direct translation to English. I am no linguist but it seems that, informally, I might conclude that xe might be equivalent to Dude in American surfer/stoner culture? Google offers a Catalan to English translator that I have used to make the following examples:

"¡Che, aconseguir els seus peus del sofà!" – Dude, get your feet off the sofa!

"¡Deixa per aconseguir una mica d'herba bona, che!" – Let’s get some good weed, dude!

"¡Cheeeeee...!" - Duuuuude!

The same usage of the interjectory che can be found in Argentina. Catalan speaking peoples were among the Spanish immigrant population in Argentina. No doubt these migrants lent che and many of their other colorful interjections to Argentinean linguistic culture.

Post-Script Ernesto Guevara, infamous Argentinean-born cuban insurectionist is more widely known by his nickname, "Che" as DonJamie points out.

I still wonder what Ancientsnow would say?

References:

http://books.google.com/books?id=nebMvGfMGeMC&pg=PA184&lpg=PA184&dq=Xe+interjection&source=bl&ots=jS_dpNDQPH&sig=rtscp5NusXWLHv5dWHMoJeALiMY&hl=en#v=onepage&q=Xe%20interjection&f=false

http://en.wikipedia.org/wiki/Catalan_language

http://en.wikipedia.org/wiki/Wikipedia:IPA_for_Catalan

http://translate.google.com/?tl=ca&q=undefined#en

From 2009 to 2011, "Xe" was the name of one of the world's largest providers of private military personal. Essentially, Xe was (is) an equipped and trained army for hire, a mercenary force, based in the USA and composed mostly of former US military and law enforcement personnel. You probably know them better (if at all), by their former name, "Blackwater." And it was under the name of Blackwater that the company provided large numbers of security details during the War in Iraq, guarding US State Department employees, working for private companies who were themselves running around building military bases and convoying food and such, and occasionally tangling with the locals and causing trouble. Which made them the most criticized government contractor this side of Halliburton, and led to that name change in 2009. Which by itself perhaps got enough publicity that the company, still stinging from prior publicity, changed its name again in 2011, this time to the intentionally forgettable "Academi." Their old logo had wicked-looking sharp-clawed grizzly bear pawprints on it. Their new one has a graphic element which looks sort of like somebody threw a few sheets of paper in the air and caught a picture of them falling to the ground. This is understandable. After all, unlike Pringles or Mitsubishi or Walmart, this company doesn't need to seep its name broadly into the public consciousness to connect with its dubious, sometimes nefarious, sometimes governmental clientele.

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