They said there'll be snow at Christmas
They said there'll be peace on Earth
But instead, it just kept on raining
A veil of tears for the Virgin birth
I remember one Christmas morning
A winter's light and a distant choir
And the peal of a bell
And that Christmas tree smell
And their eyes full of tinsel and fire
They sold me a dream of Christmas
They sold me a Silent Night
And they told me a fairy story
Til I believed in the Israelite [ Lyrics from: http://www.lyricsmode.com/lyrics/g/greg_lake/i_believe_in_father_christmas.html ]
And I believed in Father Christmas
And I looked to the sky with excited eyes
Then I woke with a yawn
In the first light of dawn
And I saw him and through his disguise
I wish you a hopeful Christmas
I wish you a brave New Year
All anguish pain and sadness
Leave your heart and let your road be clear
They said there'd be snow at Christmas
They said there'll be peace on Earth
Hallelujah, Noel, be it Heaven or Hell
The Christmas we get, we deserve
I think it means that when he grew up he realized that both santa and jesus / christianity are fairy tales, and that we will create our own heaven or hell right here on earth, so we all deserve what we create ourselves. There is no devil to blame. And, perhaps he is saying that despite the realization that the myth of jesus is just that, a myth, and there is no "santa claus god" in the sky, he still has hope for peace on earth. But it is up to us.