Lyric discussion by Ex Abrupto 

It is about the clash, the ever continuing fight between knowledge and wiseness and the temptation that every single human being feels to know everything. The man who is " sick in bed " is the wise man who holds a knowledge that is not yet ready to be spread. The master is the man who is full of knowledge and is spreading it in order to gain personnal gratification - because he is unwise. He tells everything to his student even though the student is most probably not wise enough to handle the knowledge given to him. There is a strong religious side to this song, in my opinion. The roman catholic God is a symbol of wisdom while Satan is one of knowledge. Satan and his demons often offer knowledge in order to corrupt human beings. It's a warning about what might happen one day - or what has already happened. While knowledge is the prime tool towards evolution, it is also creating all sorts of evil in the process. Also, perhaps is it a hint, the " lady who went to the moon " is most probably the USA.

I doubt the "lady who went to the moon" is a reference to the USA, considering the song was written in 1967, two years before the moon landing.

I don't think true knowledge corrupts anyone. Master is rather a "man who is sure what is true"; in other words, Master is a person who thinks he knows everything. Ambiguous, intriguing lyrics; both a love triangle and a religious master - disciple -relationship, or actually three of of them (narrator teaching Master, narrator teaching the woman, Master teaching the woman). Master could also be a side of Cohen's personality.

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