built the wall round their City. The
AEsir are unjust."

Loki had Andvari in his power. And after the Dwarf had raged against him
and defied him, he tormented him; at last, trembling with rage and with
his face covered with tears, Andvari took Loki into his cavern, and,
turning a rock aside, showed him the mass of gold and gems that was his
hoard.

At once Loki began to gather into the Magic Net lumps and ingots and
circlets of gold with gems that were rubies and sapphires and emeralds.
He saw Andvari snatch at something on the heap, but he made no sign of
marking it. At last all was gathered into the net, and Loki stood there
ready to bear the Dwarf's hoard away.

"There is one thing more to be given," said Loki, "the ring that you,
Andvari, snatched from the heap."

"I snatched nothing," said the Dwarf. But he shook with anger and his
teeth gnashed together and froth came on his lips. "I snatched nothing
from the heap."

But Loki pulled up his arm and there fell to the ground the ring that
Andvari had hidden under his armpit.

It was the most precious thing in all the hoard. Had it been left with
him Andvari would have thought that he still possessed a treasure, for
this ring of itself could make gold. It was made out of gold that was
refined of all impurities and it was engraven with a rune of power.

Loki took up this most precious ring and put it on his finger. Then the
Dwarf screamed at him, turning his thumbs toward him in a curse:

The ring with the rune
Of power upon it:
May it weigh down your fortune,
And load you with evil,
You, Loki, and all
Who lust to possess
The ring I have cherished.

As Andvari uttered this curse Loki saw a figure rise up in the cave and
move toward him. As this figure came near he knew who it was: Gulveig, a
Giant woman who had once been in Asgard.

Far back in the early days, when the Gods had come to their holy hill
and before Asgard was built, three women of the Giants had come amongst
the AEsir. After the Three had been with them for a time, the lives of
the AEsir changed. Then did they begin to value and to hoard the gold
that they had played with. Then did they think of war. Odin hurled his
spear amongst the messengers that came from the Vanir, and war came into
the world.

The Three were driven out of Asgard. Peace was made with the Vanir. The
Apples of Lasting Youth were grown in Asgard. The eagerness for gold was
curbed. Bu