"What! Have they suffered the Rhine-Gold to be stolen?" asked Wotan in alarm.
"'Tis as they said; for I stopped and questioned them. They said that the dwarf Alberich had seized upon the treasure and fled away to his earth-caverns, where he was even now making the magic Ring of Power. He has set himself up as King of the Nibelungs, and he purposes to rule the whole world."
The giants Fafner and Fasolt leaned eagerly forward and drank in every word of Loki's story—as indeed he had intended they should.
"Ah! that would be a prize worth having!" they exclaimed, rubbing their huge hands. "Mighty Wotan, if thou wilt wrest this treasure from the Nibelung and give it to us, we will release the goddess."
But Wotan again grew disturbed and silent. He knew that the Gold rightfully belonged to the Rhine-Daughters, and that it would prove a danger even to the gods themselves, unless it were returned. The giants saw their advantage and followed it up.
"Decide for yourselves," they said, laying bold hands upon Freia. "Our work is done and we claim the reward. Either this maiden or the Rhine-Gold. And until you decide, she must follow us to the frost-land."
And unmindful of her cries of distress the giants bore Freia away, across the cliffs and down the mountain-side, the gods standing powerless to prevent.
As they stood gazing in dismay a thin mist arose from the valleys, and it seemed to touch all the gods with blight, as it were a frost. For the goddess of youth and beauty was gone, and old age had already begun to lay hand upon those that remained.
"Come, this will never do!" exclaimed Loki in jeering tones. "Will you stand in your tracks and let old age blight you?"
And then he began to taunt each of the gods separately, as was his wont.