In the previous chapters it has frequently been seen how Loke time and again accompanied the gods, they making use of his strength and cunning; but it has also been shown how he acted in concert with the jotuns and exposed the gods to very great perils and then extricated them again by his artifices. By Loke’s advice the gods engage the artificer to build a dwelling so well fortified that they should be perfectly safe from the incursions of the frost-giants. For this the artificer is to receive Freyja, providing he completes his work within a stipulated time; but Loke prevented him from completing his task by the birth of Sleipner. When the dwarfs forge the precious things for the gods, it is he who brings about that the work lacks perfection, and even the handle of Thor’s mallet, Mjolner, becomes too short; for evil is everywhere present and makes the best things defective. He cuts the hair of the goddess Sif, and by this he makes way for the forging of the precious articles; thus evil often in spite of itself produces good results. Examples of this abound in the history of the world. Loke gives Thjasse an opportunity to rob Idun, but brings her back again and thus causes Thjasse’s death. He hungers at Geirrod’s, and causes Thor to undertake his dangerous journey; but he also looks after Thor’s hammer, and accompanies him as maid-servant to get it back. He steals Freyja’s Brisingamen, and quarrels with Heimdal about it. But his worst deed is Balder’s death. For these reasons Loke is in Old Norse poetry called: son of Farbaute, son of Laufey, son of Nal, brother of Byleist, brother of Helblinde, father of the Fenris-wolf, father of the Midgard-serpent, father of Hel, uncle of Odin, visitor and chest-goods of Geirrod, thief of Brisingamen and of Idun’s apples, defender of Sigyn (his wife), Sif’s hair destroyer, adviser of Balder’s bane, etc.
Odin, Hœner and Loke are often together. It is related that they once set out to explore the whole world. They came to a stream, and followed it until they came to a force (cascade) where there sat an otter near the force. It had caught a salmon in the force and sat half sleeping eating it. Then Loke picked up a stone and threw it at the otter, struck it in the head and then boasted of his deed, for he had killed or captured both the otter and salmon with one stone. They then took the salmon and otter with them and came to a gard (farm), where they entered the house. The bonde,[[75]] who lived there, hight Hreidmar, an able fellow well skilled in necromancy. The gods asked for night lodgings, but added that they were supplied with provisions whereupon they showed what they had caught. But when Hreidmar saw the otter he called to him his sons Fafner and Regin, and told them that their brother Odder (otter) Wad been slain, and who had done it. Father and sons then attack the gods, overpower and bind them, and then inform them that the otter was Hreidmar’s son. The gods offered a ransom for their lives, as large as Hreidmar himself would determine it; they made a treaty accordingly, confirming it with oaths. When the otter then had been flayed, Hreidmar took the skin and demanded that they should fill it with shining gold and then perfectly cover it with the same. These were the terms of agreement. Then Odin sent Loke to the home of the swarthy elves (Svartalf-heim), where he met the dwarf Andvare (wary, cautious spirit), who lived as a fish, in the water. Loke borrowed Ran’s net and caught him, and demanded of him, as a ransom for his life, all the gold he had in the rock, where he dwelt. And when they came into the rock the dwarf produced all the gold which he possessed, which was a considerable amount; but Loke observed that the dwarf concealed under his arm a gold ring, and ordered him to give it up. The dwarf prayed Loke by all means to let him keep it; for when he kept this ring, he said, he could produce for himself more of the metal from it. But Loke said that he should not keep so much as a penny, and took the ring from him, and went out. Then said the dwarf, that that ring should be the bane of the person who possessed it. Loke had no objection to this, and said that, in order that this purpose should be kept, he should bring these words to the knowledge of him who should possess it. Then Loke returned to Hreidmar, and showed Odin the gold; but when the latter saw the ring he thought it was pretty; he therefore, taking it, gave Hreidmar the rest of the gold. Hreidmar then filled the otter-skin as well as he could, and set it down when it was full. Then Odin went to cover the bag with gold, and afterwards bade Hreidmar whether the bag was perfectly covered; but Hreidmar examined, and looked carefully in every place, and found an uncovered hair near the mouth, which Odin would have to cover, or the agreement would be broken. Then Odin produced the ring and covered the hair with it, and said that they now had paid the otter-ransom. But when Odin had taken his spear, and Loke his shoes, so that they had nothing more to fear, Loke said that the curse of the dwarf Andvare should be fulfilled, and that this gold and this ring should be the bane of him who possessed it. From this myth it is that gold is poetically called otter-ransom.
And the curse was fulfilled. This curse of ill-gotten gold became the root of a series of mortal calamities, which are related in the latter part of the Elder Edda, in the songs about Sigurd Fafner’s bane, or the Slayer of Fafner; about Brynhild, about Gudrun’s sorrow, Gudrun’s revenge, in the song about Atle, etc. The curse on the gold, pronounced upon it by Andvare, the dwarf, is the grand moral in these wonderful songs, and never was moral worked out more terribly. Even Shakespeare has no tragedy equal to it. When Odin and Loke had gone away, Fafner and Regin demanded from their father, Hreidmar, a share of the ransom in the name of their brother Odder; but Hreidmar refused, so Fafner pierced his father with a sword while he slept. Thus Hreidmar died, but Fafner took all the gold. Then Regin demanded his paternal inheritance, but Fafner refused to give it, and disappeared. Another prominent character in the Edda is Sigurd, who frequently visited Regin and told him that Fafner, having assumed the shape of a monstrous dragon, lay on Gnita Heath, and had Æger’s helmet, the helmet of terror, before which all living trembled. Regin made a sword for Sigurd, which was called Gram; it was so sharp that when it stood in the river and a tuft of wool floated on the current, the sword would cut the wool as easily as the water. With this sword Sigurd cut Regin’s anvil in twain. Regin excites Sigurd to kill Fafner, and accordingly Sigurd and Regin proceeded on their way to Gnita Heath, and discovered Fafner’s path, whereupon the latter (Fafner) crept into the water. In the way Sigurd dug a large grave and went down into it. When Fafner now crept away from the gold he spit poison, but this flew over Sigurd’s head, and as Fafner passed over the grave Sigurd pierced him with his sword to the heart. Fafner trembled convulsively, and fiercely shook his head and tail. Sigurd sprang out of the grave when they saw each other. Then a conversation takes place between them, in which Fafner heaps curses upon Sigurd until the former expires. Regin had gone away while Sigurd killed Fafner, but came back while Sigurd was wiping the blood off the sword.
REGIN:
Hail to thee now, Sigurd!
Now thou best victory won
And Fafner slain.
Among all men who tread the earth
Most fearless
I proclaim thee to be born.