Hi Coloraday
I wasn't completely sure about "liars", but it sounds like the word he was saying, and it seems like a good fit in the context. To me, the final sound seems to be a sort of mix of S and Z -- i.e. not clearly one or the other. However, if you listen to the S on the end of the word "queens", you'll notice that he pronounces it the same way.
I'd say "Valerie" is probably a reference to a person named Valerie Solanas:
http://en.wikipedia.org/wiki/Valerie_Solanas
The word before "Valerie" is probably "a", but it could also be just a filler word ("uh").