Lyric discussion by Chicosonico 

Cover art for Cristobal lyrics by Devendra Banhart

I come up with this theory about this song: Cristobal the name of the song is perhaps in reference to Cristobal Colon (Columbus) and you can interpretate it as a modern protest song against the imperialism. You have lines likes: Hay un mundo más allá: There is a world over there.. another... and repeat. Sangre trago, ves magos: swallow blood, you see magicians. *En estas partes "go home yankees": Around here(south America),...

Hope this helps-

Against MODERN imperialism highlighted by "go home yankees" the soft subtle life of latin america where all of a sudden these magicians (americans, generally, through privatization and maquillas and so on) they trick people into falling for their tricks

meanwhile the people try to continue their lives as if nothing were the matter "el obrero y el estudiante siguen para adelante" putting up with all the things that happen "aguantate"

to me it is both a description of the general feeling of latin america, the escence and a protest song.