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Updated: May 6, 2025
And Alberich, as the master of the feast, told a tale of the dwarf-folk, and how once they were visited in their hill-home by Loki the Mischief-maker. Alberich's Story. My story begins with the Asa-folk, and has as much to do with the gods as with my kinsmen the dwarfs. It happened long ago, when the world was young, and the elf-folk had not yet lost all their ancient glory.
"Only one did I see," Loge says further the light fading out of the music "who had renounced love; for red gold he had forsworn the favor of woman." He relates Alberich's theft of the gold, as it had been told him by the Rhine-daughters, who had made him their advocate with Wotan, to procure its restitution. But their plea meets with a deaf ear.
Void of envy, happy and loving, Alberich's curse falls away crippled when it would light on the noble one, for fear is unknown to him. She whom you bore to me, Brünnhilde, shall be tenderly waked by the hero; awake, your wise child shall perform a world-delivering deed! Wherefore, sleep! Close your eye: dreaming watch my passing!
He has searched throughout the world for something to offer to the giants instead of the beautiful goddess, but has only brought back the news of Alberich's treasure-trove, and his forswearing of love in order to rule the world. The lust of power now invades the minds of the giants, and they agree to take the treasure in place of Freia, if Wotan and Loge can succeed in stealing it from Alberich.
And many of Alberich's people, the swarthy elves of the cave, came with Gernot to Rhineland; for they could not live away from the Hoard. And it is said, that hidden among the gold and the gem-stones was the far-famed Wishing-rod, which would give to its owner the power of becoming the lord of the wide mid-world. And the vast treasure was stored in the towers and vaults of the castle.
"You shall see," answered the king. And at once horses were saddled, and preparations were made for a morning's jaunt into the mountains. And, ere an hour had passed, Siegfried and his queen, and a small number of knights and ladies, were riding through the passes. About noon they came to Alberich's dwelling, a frowning fortress of granite built in the mountain-side.
Mimi, who was Alberich's brother, was the best smith in all this swarm of black slaves. Alberich forced Mimi to make for him a strange wishing-cap. It was made of woven steel. Mimi had to make it just as Alberich said, but Mimi did not know how it was to be used. When it was finished, Mimi feared it had some wonderful power, and he did not want Alberich to have it.
Mime, whom Alberich's violence cows still as in the old days, offers to share, if he may have the Tarnhelm a sly proposition, he will renounce the Ring; but this Alberich hears with furious scorn, and the wrangle is at its height when Siegfried reappears at the cave's mouth. In his hands are Tarnhelm and Ring.
As Wotan walked slowly and sadly over, he heard the wailing of the Rhine-maidens in the river below: "Rhine-gold! Rhine-gold! We long for your light!" "I shall never be happy again," thought Wotan. "I have given my honor for Valhalla. What an awful price I have paid!" Many years passed. The giants lived on in their beautiful Valhalla. But their king was sad. He could not forget Alberich's curse.
Alberich's hatred of the gods and all connected with them is shared by his son, who has been charged by the Nibelung to recover the gold. From this point the tragic denouement rapidly progresses. Siegfried's horn is heard in the distance, and he soon crosses Gunter's threshold, where his ruin is being plotted by the sinister Hagen.
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