Heres my take on the lyrics... I dont think ive nailed all of it yet, but still.
Btw, originally I really thought given the references to Jerusalem, and Roman choirs, that it had something to do with the Romans invading Jerusalem {Ancient Israel} but that is really unsupported by a lot of other things.
I used to rule the world
Seas would rise when I gave the word
Now in the morning I sleep alone
Sweep the streets I used to own
*MEANING: Simply, He was a king, Now hes not. Moreover, because of the last line, he is now living a lowly life.
I used to roll the dice
Feel the fear in my enemies' eyes
Listened as the crowd would sing
Now the old king is dead, long live the king
One minute I held the key
Next the walls were closed on me
And I discovered that my castles stand
Upon pillars of salt and pillars of sand
*MEANING: Pretty obvious, he was very powerful, then he found himself trapped and his reign ended quickly.
I hear Jerusalem bells were ringing
Roman cavalry choirs were singing
Be my mirror, my sword and shield
My missionaries in a foreign field
For some reason I can't explain
Once you'd gone there was never
Never an honest word
And that was when I ruled the world
*MEANING: Key word here is were. Since you cant actually hear something now that happened in the past [were indicates a past event], you have to assume he is being TOLD that the bells and choirs were ringing and people singing. So hes being told , this to me indicates that either he is in hiding or he has been ousted from power, jailed or most likely, he is dead.
"Once you'd gone there was never" -- this line indicates to me either that he has been ousted from his position of king-- or he is dead. However the word "you'd" throws a wrench into this... you'd can refer to yourself-- but is usually not used as such except in a weird construction... "youd do the same thing" or something. Therefore this could be referring to someone actually leaving his life.
Im not sure about the rest of this verse.. the honest word part has thrown me, I think maybe he feels he was used as a puppet and once he is ousted {or dead} he realizes it doesn't matter and/or he was being lied to.
Oh i just got it. He hears that jerusalem bells were ringing etc-- as in the people love him, thats what he was being TOLD. but then he realized that none of that was true and there was never an honest word of the people who told him that but that was when he ruled the world (when he was king)
I think im very close to cracking the meaning on a lyric basis... still not sure about what event it is.
It was a wicked and wild wind
Blew down the doors to let me in
Shattered windows and the sound of drums
People couldn't believe what I'd become
Revolutionaries wait
For my head on a silver plate
Just a puppet on a lonely string
Oh, who would ever want to be king?
*MEANING: He was jailed {or in hiding or dead}, and he is being brought into a courthouse, public meeting area or more likely to an execution to have his head cut off] (hence the deathmarch drums) {or he crashes in a public meeting area if he wasnt jailed and was just in hiding}. If hes dead, perhaps his ghost or spirit?
and people "couldnt believe" what the old king had become (lowly beaten poor weak broken etc).
Revolutionaries want to kill him-- (think Louis the XVII --or was it XVI?).
The puppet thing may refer to how kings became figureheads into the renaissance... being used by their advisors etc... and now hes a puppet without supporters (hence lonely). And of course, wanted dead by revolutionaries and being a puppet-- "who would ever want to be king".
For some reason I can't explain
I know St Peter won't call my name
Never an honest word
But that was when I ruled the world\
*MEANING: This leads me to believe he is being marched out to be executed {or already dead}, as he is about to see St Peter and he doesnt believe hes on the list to make it to heaven (St Peters job) {because he was a bad king-- as his advisor's led him wrong?}
So in summary, I think it from the POV of a former king who has fallen to a lowly place in the world, and has been overthrown by a revolutionary government that is about to kill him {or has killed him}. At first i thought it might have to do with like the french revolution/democratic revolutions etc/power of the people. but then think of this line (not used in my verse by verse): "Now the old king is dead! love live the king!" If he is being told about the bells and choirs as Ive established, then this line is after he has been ousted as well, which means after him, is a new king. So no democractic etc... here. I think my analysis is a little incomplete.