Karl Lagerfeld may have said bling is out, but is it, really? In the hip-hop world it remains so coveted that rappers, though newly broke and unable to afford flashy diamond medallions large enough to kill someone with, are simply buying pieces made from cubic zirconia instead of real diamonds. Among them is rapper Rick Ross, whom 50 Cent has accused of wearing fake bling. Embarrassing. And remember the giant bling auction of “Hip Hop’s Crown Jewels” that Phillips de Pury & Co. was supposed to hold this spring? In a sign of real bling’s downfall, The Wall Street Journal reports the auction was canceled entirely due to lack of interest among buyers. But rappers willing to relinquish their grillz can now easily sell them for cash to put toward real bling. Or, you know, basic living expenses. But this is no time to spend foolishly.