Fafnir also appear, leading Freya, whom Fricka would fain
embrace, but who is withheld from her longing arms. The grim
giants vow that no one shall even touch their fair captive until
they have received a pile of gold as high as their staffs,
which they drive into the ground, and wide enough to screen
the goddess entirely. Thus admonished, Loge and Fro pile up the
gleaming treasure, which is surmounted by the glittering helmet,
whose power the giants do not know. Freya is entirely hidden,
and only a chink remains through which the giants can catch a
glimpse of her golden hair. They insist upon having this chink
closed up ere they will relinquish Freya, so Wotan is forced to
give up the magic ring. But he draws it from his finger only
when Erda, the shadowy earth goddess, half rises out of the
ground to command the sacrifice of the treasure which Alberich
stole from the Rhine maidens.

As the stipulated ransom has all been paid, the giants release
Freya. She joyfully embraces her kin, and under her caresses
they recover all their former youth and bloom. In the mean
while the giants produce their bags, but soon begin quarrelling
together about the division of the hoard, and appeal to the
gods to decide their dispute. The gods are all too busy to
pay any heed to this request, all except the malicious Loge,
who slyly advises Fafnir to seize the ring and pay no heed to
the rest. As the ring is accursed, Fafnir remorselessly slays
his brother to obtain it; then, packing up all the treasure in
his great bag, he triumphantly departs. To disperse the shadow
hovering over Wotan's brow ever since he has been obliged to
sacrifice the ring, Thor now beats the rocks with his magic
hammer, and conjures a brief storm. The long roll of thunder