This news was most interesting to Loki, who had long owed Thor a grudge, which he was afraid to pay openly. "Ho, ho!" said he. "Then shall we soon have the giants turning us out of Asgard, brother Thor."
"Not if you use your wits as you know how," growled Thor, still in a very bad temper. "Come, you call yourself a clever fellow. Find out for me who has robbed me of my thunderbolt, my hammer, my Miölnir."
Then Loki gave a grin and a wink, and promised to do what he could—not because he cared for Thor, but because he loved to be of importance, and was, moreover, really frightened as to what might happen to Asgard if the magic hammer was not at hand.
It was not long before he noticed that an extraordinary kind of tempest was raging in the regions below—not an orderly kind of tempest, with first some thunder, and then some rain, and then a gust of wind or two, such as Thor was wont to arrange, but a mixture of hail and wind and thunder and lightning and rain and snow, all raging together in a tremendous muddle, so that the earth folk thought the end of the world was come.
This gave Loki a hint, and he began to peer about between the clouds, until at length he saw that the trouble was coming from a certain hill which stood in the centre of Giantland.
Now on the top of this hill lived a certain Thrym, prince of the Frost Giants, who for a long time past had been very envious of the might of Thor. He had, indeed, done his best to imitate him as far as he could, and had managed to get up a very good imitation of lightning and hail and rain; but he had not been able to manage the thunderbolts, for they could only be made by means of Thor's hammer, Miölnir.
All this was well known to Red Loki, and he was therefore not at all surprised to find that, somehow or other, Thrym must have got hold of the magic weapon; for here were thunderbolts crashing about the earth and sky at a terrible rate.
When informed of the discovery, Thor flew into a still more tremendous rage, and wanted to rush off at once to try conclusions with the giant. But Loki, who loved rather to get a thing by trickery and deceit, persuaded him that violence would never do.
"Remember," said he, "that Thrym with the hammer is much stronger than Thor without it. This is a matter which must be managed by clever wit and craft, not by force and loud talking. Leave therefore the whole matter to me."
To this Thor very reluctantly agreed.