The gods assented.

“But,” said Wotan, “what good does it do you, here in Nibelheim?”

Alberich glared at him, and then laughed.

“Ha! ha! But wait!” he said. “You gods! You gods! You have looked down upon us Nibelungs. Now we, with the help of the Golden Ring, will sway the whole world. We will storm the gates of Walhalla! Beware! Ha! ha! Do you hear me? Beware!”

Wotan, in anger, started forward, but Logi slipped in front of him.

“Most wonderful are you, O Nibelung!” he said, admiringly. “I salute you as the mightiest creature alive. But tell me one thing, O wise one. How guard you your Ring from thieves?”

“Does Logi think that all are as foolish as himself?” asked Alberich. “That danger I provided for. A Cap of Darkness, called the Tarnhelm, is mine, to change me into whatever shape I wish, and also to hide me at any time. So, my friend, guard I my Ring, sleeping or waking, as I wish.”

“Wondrous above all it seems!” cried Logi. “Prove it, O Dwarf!”

“That I will. What shape shall I take?”

“Whatever you wish,” answered Logi. “It is sure to be wonderful.”