"I before E except after C"... what the hell does that even mean?

Question:Yeah, we've all heard it. But does it even matter? And did I even say it right?

Answers:
it means that the letters i and e always follow eachother in this order when embedded in a word...
believe
grief
diet
piety

however when they come after a letter c the order is reversed (ei)
receive
conceive
deceit
receipt
conceit

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