Fleetwood Mac Daddy

First, let's dispel all the rumors from Saturday night.

Rumor: We had a party at the house.
Status: True. We did. It lasted until 5:30 a.m.

Rumor: I was wasted on whiskey, sick and passed out by 10:45 p.m.
Status: True. I went overboard. Maybe smoked something I shouldn't have. I was spinning right round, baby, right round, like a record, baby. Right round round round.

Rumor: I don't know the meaning of "dispel."
Status: It means "legitimize a rumor." Right?