The lyrics, taken literally, are about a wizard who enslaves countless numbers of people and makes them build a stone tower for him. The people hope for the day when their misery comes to an end, as they build the tower in harsh conditions ("In the heat and rain, with whips and chains") just so they can see him fly, which gives them hope. In the end, the wizard falls off the tower and dies ("no sound as he falls instead of rising. Time standing still, then there's blood on the sand." The lyrics also have a covert meaning, which many people have interpreted as a warning not to believe in false idols or messiahs. It can also mean that one should not give up hope even in harsh circumstances.
This song is quite a production - it runs 8:26 and features the Munich Philharmonic Orchestra. The song also showcases Ronnie James Dio's soaring vocals and Ritchie Blackmore's guitar work.
According to the book Rainbow Rising by Roy Davies, Ritchie Blackmore wrote this song on a cello.
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