Lyric discussion by SadisticSavior 

The song is based on Elric of Melniboné (probably the most famous of the Eternal Champions, wikipedia has a good overview of him), a character written by Michael Moorecock. This isn't just my interpretation, its what the writers intended. He wrote at least some of the lyrics. But if I didn't know better, I would think it was about drug addiction too. I just found out about this song recently (I vaguely remembered it from the movie Heavy Metal). Awesome song.

@SadisticSavior Definitely not Elric. His journeys were about his own struggle against destiny and fates that he actively wanted nothing to do with. Elric is loved for many things, I loved his balls. It takes some pretty extra-dimensionally large cojones to tell the Infinite Lords of Law, Chaos and Justice to all go screw themselves.

What is more likely, is that this song, written for a sci-fi film, gave Moorcock an opportunity to express that the Eternal Champion, even in some futuristic world of psionic intergalactic warriors, continues as the Avatar of the Balance.

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