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The Boxer Rebellion – Diamonds Lyrics 11 years ago
I think the song is referring to him being with a girl who broke up with a 'soul mate' and tried to get over it with a one night stand (from shallow nonsense = fooling around).

However it developed into a relationship when she started to feel a connection with him, partly to try and forget about the old lover (did you always want me to be something to mend a broken heart).

The songwriter however couldn't compare to the ex lover, who meant everything to the girl (I'm no good next to diamonds..when I'm too close I start to fade). He is apologising for not being able to compare.

However the other answers sound good too!

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