Said in response to someone saying thanks. Comes from a Joke where David Hasslehoff asks a Clerk to change his name to the Hoff... when the Clerk said Sure, No Hassle. Now instead of saying "No Hassle" people just say Hoff.
Usually said after saying something smart or intelligent.
A longer version of the sentence is 'Up here for thinking, down there for dancing, out there for shaking and down here for making' Usually one would point to their head then feet for the shortened sentence. If lengthened one should then shake their hands and then point to their mid section while saying the last two things.
Went quickly or went unencumbered. May have to do without the old idea of having an account or owing money... having a slate, and maybe this the idea of being free from debt...