A little cunningly disguised flattery makes short work of Alberic. Loki pretends to be afraid of him; and he swallows that bait unhesitatingly. But how, enquires Loki, is he to guard against the hatred of his million slaves? Will they not steal from him, whilst he sleeps, the magic ring, the symbol of his power, which he has forged from the gold of the Rhine? "You think yourself very clever," sneers Alberic, and then begins to boast of the enchantments of the magic helmet. Loki refuses to believe in such marvels without witnessing them. Alberic, only too glad to show off his powers, puts on the helmet and transforms himself into a monstrous serpent. Loki gratifies him by pretending to be frightened out of his wits, but ventures to remark that it would be better still if the helmet could transform its owner into some tiny creature that could hide and spy in the smallest cranny. Alberic promptly transforms himself into a toad. In an instant Wotan's foot is on him; Loki tears away the helmet; they pinion him, and drag him away a prisoner up through the earth to the meadow by the castle. Fourth Scene There, to pay for his freedom, he has to summon his slaves from the depths to place all the treasure they have heaped up for him at the feet of Wotan. Then he demands his liberty; but Wotan must have the ring as well. And here the dwarf, like the giant before him, feels the very foundations of the world shake beneath him at the discovery of his own base cupidity in a higher power. That evil should, in its loveless desperation, create malign powers which Godhead could not create, seems but natural justice to him. But that Godhead should steal those malign powers from evil, and wield them itself, is a monstrous perversion; and his appeal to Wotan to forego it is almost terrible in its conviction of wrong. It is of no avail. Wotan falls back again on virtuous indignation. He reminds Alberic that he stole the gold from the Rhine maidens, and takes the attitude of the just judge compelling a restitution of stolen goods. Alberic knowing perfectly well that the judge is taking the goods to put them in his own pocket, has the ring torn from his finger, and is once more as poor as he was when he came slipping and stumbling among the slimy rocks in the bed of the Rhine.