Good day, fellow investors. In this video, I'll explain in detail why I expect a return of at least 10 and going to 15-20% from stocks. And I'll compare stocks to real estate in order to see which asset class offers the best risk return puzzle. Because it's all about risk return. As an investor, I don't care which the asset class is. If real estate are cheap, I would invest in real estate. Even Warren Buffett invested in real estate when those were cheap. I'll make a special video about that. So don't be constrained by asset classes. Think about risk reward. And now let's go into the comparison of stocks and real estate. The current, psychologically adjusted price earnings ratio, CAPE ratio for stocks is around 30. This means that the expected return over the long term will be 3% from stocks. With some growth, that return can grow to 4-5% in the long term. But that's it. What is the risk? Well, whenever the CAPE was so high in history, next 10 year returns were negative for stocks. So you can expect that the risk for investing in stocks now is 50, 60, even 70%. For a meager 4% return, I don't like those odds. So if I invest in stocks, I really want higher odds. I want 20% return, at least, and lower than 70% risk. Difficult to find but possible. And now let's see about real estate. And why am I so strongly saying that if you invest in stock, you should expect only at least 10%. Don't invest in stocks if you don't get 10%. Now let's first start with real estate. If you look a bit around where you live, I'm sure you can find low risk real estate investments that the rent yield is 4%, even 5%. If you are good, if you know what to look, you can push it to 6% if you are, of course, a professional. So 4%, 5%, 6%, stocks 4%, 5%, 6% in the long term. So the expected return, what you get from investing in stocks or real estate is equal. What's the risk? If we take a look at the Schiller real estate index, we can see that real estate prices can also fall like stocks, but that the fall was much lower in the exponential crisis than stocks. So in general, I think we all agree that real estate has a lower risk than stocks, especially in the long term. Now I said real estate can give 4%, 5%, but I said I need 10% from stocks. That's a huge difference. Well, if I add leverage to real estate, my returns can quickly come to 10%. As real estate are less risky than stocks, you can go to a bank and with a 20% down payment, 30% in the Netherlands where I live, you can buy a real estate and investment property to rent out. And the mortgage rates by loan product are very low. 3.6% 30 year fixed rate. In the Netherlands, it's 4%, 4.5%, but still below 5%. And if you can invest in an apartment with a rental yield of 5%, 6%, and you can pay a mortgage rate of 4%, then you immediately make profit and increase your returns. I have here made a small table. Let's say I invest 50,000 as a down payment, including costs, the purchase price is a quarter of a million, the loan is 200,000, interest rate is 4%, that's the monthly payment, $955. And I pay off my mortgage after 30 years, so I don't make any profit. So what I get from my tenants, I pay my mortgage. And so for 30 years, no profit, the total return on investment is 400%, and the yearly return of investment is 5.5%. On my initial investment of 50,000. So this is without any profit. Imagine that you make a small profit of 2%. After paying all the costs, there is $100 that remains, that adds 2.4% per year to your return, because $1200 is 2.4% on the 50,000 you invested. So that's, we are already at 7. something percent. Now, in my example, real estate prices didn't grow in the next 40 years. Will that happen? That's very unlikely. So if that real estate you buy now with a fixed mortgage interest rate, let's say doubles over the next 40 years, then your return is already 8%. With the small gain from the difference in costs and tenant yield, you're already at 10.4%. So I think that with a bit of effort, you can really find such deals in real estate. It's a great diversification play, especially now when you can get a fixed mortgage at such low interest yields, 30 years. So really think about diversifying into real estate and really allocating in different asset classes risk reward, always risk reward. So if real estate can easily yield 10%, then I mean, I need more from stocks. If not, just put your money into real estate at this moment, leverage it properly, buy a good piece of real estate and hasta la vista. However, it's not that easy. Real estate, sometimes you don't get paid. Your tenants go, something gets broken, maintenance costs and all those kind of things. So it's a management intensive job. However, there are different investments. If you apply a good amount of time, I think you can really find good deals. I bought my first piece of real estate one and a half years ago, but before that, me and my wife went to see about 20 properties a week for a few months, and I was online every day. I knew every color of every wall in every house, 40 kilometer radius from where I wanted to buy. So the more research you do, the more things you see, and then you can really find good deals. And that yield, the 5% can become 6%, 7% in respect to a 4% mortgage. And then we are already talking much higher than 10% yields. So really, when you compare real estate and stocks, I think stocks are overvalued now, of course, except for the stocks that we recommend on this channel. Thank you for watching, subscribe if you like the content, and if you haven't subscribed yet, I'm looking forward to your comments and I'll see you in the next video. I'm looking forward to your comments and I'll see you in the next video.


Okay, we're back here live in San Francisco, California for Oracle Open World 2012. This is live extended coverage of SiliconANGLE's theCUBE, our flagship program. We go out to the events extracted from the noise. I'm John Furrier, the founder of SiliconANGLE. I'm joined by my co-host. Hi everybody, I'm Dave Vellante from wikibond.org. We're here with Brent Compton, who's the senior director of product management at Fusion I.O., who's been on theCUBE a number of times, particularly Dave Flynn and Gary Ornstein. Brent, welcome to theCUBE. I think it's your first time on. It is, thanks for having me. All right, good to see you. Fusion I.O., smoking hot company. We've been hearing a lot about how you're changing the whole infrastructure of the data center, of the enterprise, and we're here at Oracle Open World. This is kind of your sweet spot, right? The world of databases, but so tell us what's new with you guys. What's going on at the event here? Well, if SSDs make databases go fast, when you start looking at flash as a non-volatile memory form, it branches out into an entirely new developers, developers gain access to flash as a non-volatile memory form and can significantly accelerate their applications. Yeah, so we're seeing that, and we've been talking to a number of developers a couple of times in the database world about that. Talk about what developers are doing with that memory extension, bringing non-volatility persistence to the other side of the channel, the right side of the channel of the system architecture. Well, you heard momentarily ago from Brian Bulkowski, from Aerospike. For them, it's all about latency, reducing latency. If they can effectively, if they can take logic, he talked about collapsing a couple different layers. He talked about talking with our founder previously about discovering that inside of our software layer for our virtual storage layer is actually a database that makes flash go fast. And he's building a database as well, so when you combine the two, there's an awful lot of duplicate logic. So what's new and different is giving developers for the first time in industry native access to open up those primitives, which in all SSD vendors today, that's locked. Nobody's exporting primitives for the flash layers. When you think about flash, a lot of people think of flash as an SSD, but when you think instead of flash as a non-volatile memory source, non-volatile memory transforms software development. So that's the long game, is transforming software development. The short game and very, very popular game is making applications go fast with SSDs in addition to that. He talked about the long game being opening up the entries to that system and being able to change the way in which you write applications fundamentally. I mean, think about non-volatile memory. What's native for software developers? What's native to software developers is to manipulate their data structures inside of memory. I remember when I was programming, we had 64K RAM to work with. So imagine a terabyte of memory, in this case, flash, to work with. And one of the things you hated when you program with that 64K of memory is doing I-O, because I-O is foreign, right? I-O takes work. What you love doing is manipulating your data structures inside of memory. But the moment you change, you convert to block I-O, that's work, that's foreign. So think about the future of non-volatile memories when you're able to effectively malloc, I mean, think about allocating 10 terabytes, 100 terabytes of memory. And just within that space, interacting with your data structures natively and knowing that that data is being persisted without having to convert into old-fashioned block I-O onto spinning disk. That non-volatile memory access, that's what's transforming software development. So the software development platform that we're rolling out is the industry's first crack at opening up that flash as a non-volatile memory tier and giving back to what you said before, giving you native access to a lot more non-volatile memory. So one of the keys is obviously getting developers to write to that set of APIs. How's that going? Can you give us an update on the traction that you guys are getting there and what kind of initiatives you have around that? One of the things going on in favor is the explosion of unstructured data vendors, not only unstructured data vendors, but unstructured data applications. So think about all the social networking companies, all the unstructured data tier applications that have been written, just frankly because the classic relational database with the classic SAN just wouldn't scale for those guys.  All of those were invented because the classic relational database on SAN just didn't scale, it was tapped out. So folks like that, again, one of the things that's, one of the winds that's blowing in our favor, putting wind in our sails, is the explosion of unstructured data development going on inside of those social networking companies, inside of unstructured data companies, as well as people like one of the things that yesterday I presented here at MySQL Connect. So MySQL itself, classic relational databases, think about if you gave a classic relational database the ability to do an atomic right. So if you, stay with me for a minute on this one here. So think about in the past, when you want to say a group, a whole bunch of blocks do an update, you have to do right ahead logging, or you have to do double buffered rights. So think about instead, if you could take a whole envelope of updates, send it down in a single transaction update to the database, to the media. Number one is you reduce a significantly amount of overhead inside your application, but number two, you double the life of the media because you're writing half as much. So you're talking about double buffered rights and things of that nature too, essentially preserve data integrity, right? Is that right? Give it apps, asset properties. And going through traditional storage protocols to do that, right? What you're chatting. And going through new protocols, new primitives to do that. It's one of the things that, in fact, at one of the presentations, the Percona server guys, gave a present, part of their presentation was talking about how they had converted the MySQL server to convert from instead of doing those double buffered rights, right ahead logging, convert that to atomic rights. So once again, the underlying storage media, so I mean, think about software defined storage. If you can teach the underlying storage media to understand what a transactional update is to get those asset properties, you no longer have to do the workarounds that Database has been doing for generations. All of those things, right ahead logging, double buffered writings, are really, you can consider those as workarounds for the absence of more intelligent storage. Right, okay. Customer environment. Exactly, you guys have grown significantly.  But now, with all the success you've had, all the expansion capital you've invested in, what's going on in the customer environment? What problems are they now solving as you guys continue to move from caching layer to more and deeper into the infrastructure? What are the key problems that you're seeing pop up consistently for your customers? So actually with unstructured data vendors, I'll stay with the theme of direct access to non-volatile memory. And with some of the unstructured data vendors like Brian's company, one of the things, if you have to treat an SSD like a classic block device because you have no access to its primitives, one of the things that we're seeing from their environment is dramatic over-provisioning. Sometimes in quantities of three X, so several of these no-SQL vendors having to tell their customers to purchase three times the amount of flash that they're actually going to be storing customer data in, effectively one third for the data, one third for the grooming requirements of the underlying flash device, and an additional third for garbage collection and defragmentation from the no-SQL vendor. So one of the things that we're seeing solved by this, again by this new direction of direct access to non-volatile memory is dramatically reducing the amount of over-provisioning that's taking place in the marketplace. That's just a simple example as it relates to the companies you've been speaking to. So I want to talk about the competition a little bit. Around the time that EMC was putting enterprise flash drives into its arrays, you guys were launching, or at least in beta, with your first PCIe card. And then about four years later, at this show last year, EMC announced it was in beta with its VF cache. Now, having said that, big company, a lot of footprint, a lot of feet on the street. How has competition generally affected your marketing, your business, the way in which you're interacting with customers? What's happened is that one of these cases where it's high tide, everybody's happy.  Because everybody's essentially saying, oh yeah, we do that too. But the nuance of things like atomic rights and all those things that you were just talking about, oftentimes get lost on non-technical people that are influencing the decision. So what has been the impact of all this new competition to you guys? It has enhanced our company. I mean, obviously the results are public being a public company. So as the results indicate, it's enhanced our position in the industry. When you are a pioneer, as you mentioned, that we were four years ago, it's lonely. And you have to do an awful lot of evangelism. People say, what is it you're talking about? Why would you not just keep all of your storage far, far away at the other end of a network fire? It's too expensive. So now it's a validation of the pioneering strategy. So as EMC is recognizing today that when you put data close to where it's needed, good things happen, that was us a couple of years ago. Now when you look at the kinds of things that we're doing, we're now a couple years ahead of that, looking at things like, this is a non-volatile memory mechanism. So we're able, because we mastered Flash on server a couple of years ago, that allows us to do what we're doing now, a couple of years ahead in terms of the next generation of utilization of Flash. And you're hearing it from Oracle. We're at Oracle Open World. I mean, a lot of conversation about Flash. People standing up at the keynotes, talking about the impact of Flash. I think Oracle might have even called you out, which is John says is validation. So, nice.  I mean, there's been some dents in the armors if you will. So congratulations, but that being said, there's a lot of rhetoric being thrown around. So how do you answer that with Oracle? I mean, with Oracle itself, we make Oracle go fast too. Working with some of their companies, of course, like the MySQL group is the one that's public, but a few other ones privately, looking at, for them mostly, looking at, once again, if you can treat this Flash as programmable non-volatile memory, what's possible? Because it's different than just Blockhead. I think, you know, Brian from AeroSpike, who's the co-founder of a previously called Citrus League, I think he's an example of a new breed of company that's rising very, very fast. They have technical chops, solving real problems at scale, with this new capability. So to me, that's, we're going to see a lot more of that. So could you lend some color into that and share other examples like Brian's company that you're seeing, just don't have the name companies, you just show areas of growth, where startups are coming in, you're seeing a lot of activity. Can you share with the folks out there, any areas in particular? In the financial industry, you can only trade as fast as you can log. And so in that space, various types of innovation going on in terms of enterprise message bus, high-speed transaction logging, those types of things. So we're seeing that as a hot pocket of Flash adoption, non-volatile memory adoption as well, kind of a trend of doing things that couldn't be done before. When back to the old adage, when all you have is a hammer, everything looks like a nail. When all you have is slow spinning disc, you can't do some of the things. So that's an area where we see a fresh new round of innovation based on new solutions available in the marketplace. Awesome. Government institutions who track us. They have a lot of information which they need to track. Likewise, frequently need to access that data. And so that's another area. Again, it's opening up a new round of innovation, the application space. Yeah, I'm sure the orders are flying in from the government. I mean, with Homeland Security and surveillance and with video cameras accelerating huge amounts of data in real time. It's not going away. I mean, I don't think it's going to go away. More data, the better. So how's David Flynn doing? How's the company? Give us a quick update on Fusion. David is doing swimmingly. In fact, I think you probably, if you've been reading the news, he's been down under. I believe it's in Australia. So continuing to circle the globe. Business is good. Waz was down there giving a little speech too. Is he still on the entourage? Waz? I'm not sure where they are today, but yes, recently they were together down under. Awesome. Okay, well, we're inside theCUBE. We're here with a special edition software to find everything, infrastructure, new architectures, Fusion IO leading the charge. Obviously continuing to set the agenda and just out distance themselves from the old way and pioneer the new way. Thanks so much for coming on theCUBE. We really appreciate it. We'll be right back with a wrap up for today and right after this short break.


You know what you said there's a one of the best names ever, right? I've had that many of us last week, but it was a belter of a night. Absolutely. And they've only planned a couple of gigs and I was going to tell you, I know probably the logistically It's not easy to shift the band to get around. No, it takes a bit of organization and fairness as I say to get to get What it was too good not to Oh, yeah, yeah, and then it's got a gig down in Dublin around the Springsteen concert Factory the weekend of the Springsteen concerts, I believe it's a Saturday night As I say, I'm we're in the Empire and Belfast. I believe now before I want to say before December I've never actually played the Empire yet. No, so I'm looking forward to used to go up the regular my daughter love him Belfast great escape and We went up the last time was up with as a number plan on right upstairs. It's just really really Great feeling. Yeah old style. Yeah Works and whatever you want to call it. You know no style building. Yeah, you'll enjoy that enough of that Yourself you've an album coming out. Well, I do. That's just some here here tonight to shamelessly plug myself So I have a new album coming out and next Thursday the 22nd of September It's called when the world was new It'll actually be my second album But I'm kind of excited about this one because when my last one came out Very much hit nearly straight after so as I said, I was so I'm kind of going second run here, you know Album fully of originals yet nine songs in through so We're gonna actually we're gonna play first we're gonna do is called the bitter end so it's a good place to start The beginning of the end Well, hey come on over make a game out of the worry and we'll call it something stupid like let's pretend That's him kind of chains more colored in and rearranged, but I can't say why this really means It's something major in my mind about the way we're given time and if you can't laugh about it You best pretend This time is all we have in me Keep trying just to see when this all goes in Let me see here the harvest fair. What a better way to spend the Monday It was a good day for me to spend them on the only down glint is brilliant Really enjoyed it. I have to say could have stayed a bit longer. Well, it's not done yet But we'll let you know don't you worry good evening Michael Zara Daniel and me and Jimmy from my dimming dog Demond thank you very much indeed and tomorrow and all the crew there from Savannah unplug Thanks for your e-message up on Facebook Thank you very much, and just before I move on it alert. Hello to Eden I was chatting in on Saturday down at Oakville and he said he's got it He's got a child's violin here, and he would love to donate it to The folks from the shimmers grant weekend. We'll pass that details on in. Thank you very much much appreciate it Right Michael. So yes, how long has this album been from right now to now? Right now till now interesting to you. I started probably again mostly everybody probably started chipping away at this in overlocked down and And for Zara here's been there since I started bashing things out around the kitchen table to the end product But no as I say and again very much those sort of second album syndrome I think we demoed about 40 odd songs or so for it But and then I've chipped it back and back and back and but I'd nearly finished it sort of last year And then decided I just didn't wasn't happy with it Didn't like it and figured this year and the start so started functionally January 2nd this year see this year Oh now I get that I totally get that because to me that's an artist who knows what they want And that's well important. Well, I think as someone said to me is nobody's probably gonna hear this more than I am So if I don't Yeah, I do think Recorded actually recorded actually at home. We have a sort of a music room at home sort of set up in that I'm very much so I'm a glutton for punishment in that way. So yeah, I do enjoy the challenge So when it comes to comes any those things between so the second one that's record the first one at home as well But so I said it's been it's been a real it's been a real portion I get a real kick out of the actual challenge of trying to push the thing forward and trying to problem-solving with it You know and it's been great because I said Daniel and board as well for a lot of recording processes timings are too So it's always good to have two people that are happy to criticize you openly. So Keeps you grounded, you know Enjoy that process of massively massively, you know, honestly like it's it's probably like a counterproductive thing And anybody would be telling me and this is the worst thing I could do in marketing But honestly, I think the process of making it does as much for me almost as anything else I know it's there and I'm satisfied and I feel like I've hit everything to where I wanted it to go That you know what it's Yeah, very much so, you know, I keep calling there like kind of life totem poles, you know Have you that work done or not our work and I was done and I want to throw a shout out and that actually to Mr. Steven Crane actually Steven is behind the al-air stuff and everything. I'm sure you know I that's yeah, so so Steven actually did all the artwork for the singles and stuff with me So we kind of bounced ideas back and forward and sort of an eventually I was like, you know, Steven Just come up with you something so so he made these fantastic sort of dreamy snow globe They're amazing You really knocked it out with that so it's been fantastic working with him So when can we expect it you say the album is coming out It'll be out online on September 22nd Well, yeah, no, we're chipping chipping rightly on cuz he could see at the same side I'm marrying this fabulous lady here now coming start of December. So I promised I'd have a lot of things We need a bit of free time at some point here Thank you very much Well, it's just it's all keeping with Daniel yourself what about music with you? What? Well, I play guitar for a long time playing cover bands mainly but I studied music in college over in Liverpool Oh, yeah, I did. Oh, you did. Sorry big apart. Yeah, so I'm playing bands original bands then but Yeah, I like working with people like Michael more than doing my own stuff. So Working on ideas together and Michael really had the vision and I just like given constructive feedback I didn't slay them too hard No, no, it's lovely just just a wee unsaid on yourself. So you're enjoying this process. I mean, that's really fun Yeah, and it's really good to do it again because it'd been a while since I got to do an original stuff So yeah playing cover bands mainly so And Zara, well, you've no choice in the matter I Was great it was great to have Daniel as well on board because as much as like my my fresh ears weren't so fresh after a while You know because I was hearing the songs all the time too when you're Michael singing them around the house all the time and then I'm like jumping in harmonies all the time You know like we're working on stuff and changing so it was great to have it was always great to have a fresh ear So likes of like Daniel listening to it and even even Steven listening to it. You know, there's a couple of people What is nice, you know what I mean for both of you as a couple is nice, you know, it's just You know what you want them to sound like and you know what these want to sound like together Yeah, yeah, actually give them some vocal lessons and everything we got Yeah, my my September to May job is you know Teaching privately singing and piano For those interview goals and more it sounds like I'm just using this wedding to con people in to make music What did he get in my right second of December Getting dates right here Well, we've we're on a date sound coming up We're two down done already. We were in the forest. We were in blixer last week now We're on we're the next one up is next Tuesday. We will be in We're doing the mousepiece here in the clinic It's great night. That's You know a lot of people talking about that venue They're doing a great thing with it and it's really great in his crowd and it's doing very very well But we're in that and then we're actually opening for the seager sessions Down in Kilkar the next date. That's the 30th of September. Is anybody done that neck of the woods? It might happen to see like double whammy of me Hop on board Later in October, but there's one other show I'd like to mention as well is October 10th There's before World Mental Health Day and on green in theater There is show happening that night as I'll be doing a brief short little talk at that about the benefits of creativity and mental health But also all the proceeds from that night will go towards the wellness cafes around Donegal So it is definitely a show worth We're loved to go into a second song and then we'll chat away about the album and this is one from the album This is one from the album. Yeah, this is the very first single came off of that. So, um, yeah It's called top of the world top of the world Okay I think it's just sort of thing like you would be a 60s vibe run throughout. No, I don't know There's either funny as touches of that would sit particularly in that we track actually The it's because the album really is a say funny even the entire process of actually recording it I tried to stop listening to almost Anything just was it would just because I find that I get led so far by different styles and you hear we think you're like Oh like that and I like this so only some people do the reverse and they listen to you Get inspirational I found this time I tried to streamline it down like as I say and I think then the whole monster generous just Daniel Johnson was the only thing We played just one person in the house the entire time So as I say, so you just you figured that way we get in but funny even that this is a even like working with down there too like that song in particular and he'd Because again on the album tracks seven isn't you know, it's in full band sequence and stuff But even with Daniel that time and I'd send him track and he was like, you know What were you thinking of what did you want for this and I'm a very visual person rather than because I don't maybe know the full Technicality of what's going on, you know I'm from the theory behind it But so I just sort of said to him was that I really kind of imagined it kind of being like mariachi skeletons playing it in like a CD bar First take he had the sound and I was just like that's it there Because there's a lot of singers right and you know you get an album or pair I preferably love listening to you know, we get music sent to the internet So you just basically listen to the phone, you know, yeah, but I love going on the on the head phones Yeah, when I'm birthday and I love I love it always when I can get this song and go put myself on a bar The respect and I get what you're saying there because you go It's fun that's something that's always like again I always find this you know a question somebody says what do you sound like it's always kind of I find this a bit of a tricky one answer But I was in the most common thing people always call the music I make a cinematic and very it is quite visual and mood kind of That's what it is it comes across well, so well, okay. Well, it's even better than so We'd love to get a third song Unfortunately, and you know what we could have sat and chatted these all night. Oh gosh. Well, just thanks so much for having The pleasure to be up here with you. Thank you. There's a pleasure to work because we're just a lead Have me up because you always bring that that both of you sorry about the both of these bring this You're describing manic energy This final song Song this is called to from the heart and this is actually the currently the track That was the last thing that came out of it now before the album's come out It's and and this is do you know what I'm actually really delayed This is actually probably the oldest songs on the album nearly everything else It's on there was written over like the very first song we did tonight was written the night before it was recorded and So straight in whereas this song now is quite as quite a few years Now sitting and I'm really delighted with where we where we got it to it was a song I was almost scared to record because I just wanted it to be right but But yes, there's a tooth in the heart and this is out there in Spotify and all things there now Thank you very much Product because if that dare grab G well, that's someone 22nd of September 22nd of September the album's out and it's called once again When the world was new and if people want to get in touch with Michael you can find me on Instagram Facebook all under Michael Gillespie or at its Michael G music and you find me on Twitter at its MG music as well Thank you very much And you know the thing about it, right as I said to you before like listening when it's right when that album was out I will be listening it on the phone I will be self set down in Perch and it's just something I look forward to doing you know like I love my textures I'll love the depth in the album and there's pockets of that in there if you're a fan of albums I think well, do you know this you have it in spades how the talent is just brilliant and as a combination of three He's well done and to me. It's just a pleasure. I'd like to have his up here sharing your music with us Well don'ts and listen to best look going forward in December excellent and there's people out there They may be getting an invite to Thank you very much Michael and Daniel You pop up again Quick


The eleventh adventure of Siegfried the Dragon-Slayer, by Anonymous, this Librivox recording is in the public domain, recording by Phil Shempf. Siegfried's fight with the faithless giants unto the Drakkenstein. When the poor dwarf had recovered his breath, he tied his horse with fear and trembling to the trunk of a tree, and then ran on before Siegfried to the Drakkenstein. He passed over wild ravines, behind waterfalls, and through the hollows of rocks, till at length he came to the entrance of a cave. It looked much like Mimer's smithy, only that it was wilder and more appalling. Here, said he, dwells Cooperun, a king of the giants. When he takes his stand among the rocks and blows his horn, a thousand giants are ready at his command, and all the dwarves in the mountains around, and all the spirits of the woods and waters are subject to him. For he is of all giants the strongest and fiercest. He, with his companions, can overturn mountains and pour streams over the land as he pleases. He can sink ships and root up forests. He has formed an alliance with the fierce dragon, and keeps the key which locks up the hollow cave. Hearest thou the roaring in those rocky hills, as if a mountain torrent were rushing through? That is his snoring. It is high time that we depart, for if he awakes there will be rough sport. It is for that sport, said Siegfried, that I have come hither, and thereupon he went to the entrance and blew the horn which hung before it, so loud that the rocks far and near re-echoed to the sound. The dwarf leaped in a fright into a hollow tree, but the giants slept on. Then Siegfried blew the horn a second time, with such force that all the birds in the wood were silent and flew to their nests. But the giant never opened his eyes. He muttered only. How loud those plaguey wasps are humming today. Siegfried now turned his spear and struck the savage sleeper in the side. Without opening his eyes, the giants struck at the spear, thinking a wasp had stung him. The iron bent in Siegfried's hand, but the monster continued his slumber.  Wake up, thou prince of giants! A young wolf is in thy nest. The monster now turned himself round and looked at the hero in scorn. Grimm was his aspect, and his face was covered with red hair. His limbs were huge and clumsy. His eyes round, his mouth reached almost from ear to ear and gaped like a mountain cave.  From his frightful appearance he bore the name of Wolfgram Bear, for he was as hungry as a wolf and as savage as a bear. What has brought thee here, boy? he said, grinding his teeth. I know not whether I ought to hang thee up here in my hall by the head, or thy heels, my little fellow. Heaven forbid thou shouldst do either, thou hungry vulture, said Siegfried. I am surely not come here to be hung. The sword is my friend, fighting my pastime and danger my delight. So release the maiden whom thou and the dragon are keeping in captivity, or else thou shalt sink into the earth, and the oak trees shall grow over thy body. At these words the giant was in great wrath. He snatched up a rock and hurled it at the hero, but Siegfried the swift leaped aside with a smile and avoided it. Raging with anger the giant now raised his mighty iron poleaxe to cleave him from head to foot, but Siegfried avoided the blow, and the weapons split the rock at his feet and sank it deep in the earth out of the giant's hand. As he stooped to draw it out, Siegfried sprang on him and gave him many severe cuts in his arm while the dogs flew at him and fastened on his legs. The giant seized the dogs one after another and threw them far away into the valley. Then he seized the poleaxe anew, but the blood flowed in copious streams from many a deep wound so that he became exhausted and fled into the middle of his cave. Here he dressed his wounds and put on a coat of mail which the dwarves had made for him and hardened in dragon's blood. To his side he fastened a sword, broad and long, at the point of which ran a snake, and wherever it flew hissing death entered and life departed. On his head he put a helmet of black steel in the form of a dragon. The shield which he hung around him was inlaid with iron and so huge that he could lift upon it a knight and his horse. Thus armed he came out with a four-edged poleaxe which at every stroke rang like a bell.  Thou liest savage monster, have I not myself aroused thee to the fight when I could have plunged my sword in thy heart? The giant replied, He who led thee hither has led thee to thy death and that thou shalt find before the sun goes down behind the hills. And were there ten such as thou art, I would put you each on a shirt you could never get off again. Come on then, cried Siegfried, but take care of thyself, for many a one has boasted of doing great things when the ravens were already sitting on his helmet ready to peck at his eyes. The two now rushed at each other and dealt such weighty blows that the fire flew from their shields and the eagle high above the rocks and the wolf in the cave below let go their prey and fled. The giant, however, constantly missed his aim, for he was naturally clumsy and unwieldy, and his wounds had crippled him. But Siegfried struck blow after blow as rapidly as if he had had ten swords in his hand and hewed out pieces of the large iron shield like a carpenter at his work. Cooper in that length had only the strap left in his hand.  Till at length he piteously exclaimed, Hold, hold thy sword! Short as it is, it strikes deep. I have proved thy courage and see that I cannot gain the victory over thee. Grant me but my life brave hero, my weapons and myself, thou mayest take as thine own. Then said Siegfried, the first thing I require of thee is to free the maiden on the rock. Thus ended the strife and both swore fidelity to each other in all their dangers. The giant that he would serve the hero faithfully, and Siegfried that he would take no revenge for the conflict. But the giant was deceitful, and all the while considered only how he could accomplish Siegfried's destruction. Siegfried, on the contrary, spoke to him frankly and kindly. Thy wounds, my poor fellow, grieve me much. I will dress them before we ascend the rock. So saying, he tore his own garments and bound them round the wounds of the treacherous giant, and they went on their way together. Eugeline, the dwarf king, crept from his hollow tree and ran behind them, but without being seen, for he wore his cap of mist which rendered him invisible. Siegfried went before, followed by Cooperun the Faithless. The way led into a narrow rocky valley. On the further side stood upon a dry stony ground, dwarf oaks and bushes. Beyond rose steep and naked rocks, half covered with trees, and hollowed by falling waters. On the right descended steeply a smooth precipice of stone, and in the depth of the valley itself, foaming over rocks, rushed a wild stream. A bow shot further on, the valley was closed by another steep precipice, a hundred fathoms deep. Over which the stream rushed into the depth below, dashing against the rocks and masses of stone. The giant raised his hand, and pointing to a crevice in the rock above said, See as thou the cave yonder behind the waterfall, there we must enter. While Siegfried was looking about, the false monster raised his hand and gave King Siegman's son such a blow on his helmet that he fell, senseless on his shield, and lay stretched on the ground like one dead. Then the giant stooped to throw him over the precipice into the foaming waters beneath, but the hero's dogs flew fiercely at him, and Eugeline, the nimble dwarf sprang forwards, put on his cap of mist, and bore Siegfried away in safety under the trees. The giant was much surprised when he found that his enemy had disappeared. He looked round on all sides, fancying he must have fallen over the rocks from the force of the blow, and he was about to send the hounds after him, but they, accustomed to fight with wild beasts, grew back quickly when he stooped to seize them, and as he slowly rose, they sprang, barking between his legs. The giant stooped again, seized one of them by the throat, and was going to throw him over the rock when the other dog sprang upon his back and seized him by the right ear, so that Wolfgrambeer bellowed till the valleys echoed around. Again the giant tried to seize the dog, but by this time he had come to the place where Siegfried lay with his cap of mist, and thus instead of the dog he caught hold of the dwarf's head, who immediately began to cry out piteously. Siegfried awoke from his swoon, sprang up, threw away the cap of mist, and gave the giant such a wound in the neck with his sharp sword that he instantly let go the dwarf. Then he raised his sword again to give the faithless giant his death blow, when the latter held out in his right hand a golden key and said, hold, or I will throw away this key, and then you will never reach the king's daughter on the Drakkenstein, for in the whole world there is no key but this that will open the enchanted castle. Siegfried let fall his sword, and gave the treacherous monster his life a second time. End of the Eleventh Adventure The Twelfth Adventure of Siegfried the Dragon Slayer by Anonymous Of the great wonders which Siegfried saw in the Dragon's Rock Siegfried, being aware of the treachery of the giant, now made him go on before, and so they arrived at the cave which was concealed behind the water that fell from on high. Here they were first obliged to creep down eight fathoms, then the giant scraped away the earth and leaves from the ground, and a large iron lock was visible. This he unfastened, and lifting up a heavy iron plate, under which ran a stone staircase, Cooper and Bade Siegfried go before. But the hero looked angrily at him and said, thinkest thou that I have so soon forgotten thy treachery that thou openest a new trap for me? Then he took the large key from the lock, and pushed the giant on with it, and made him run quickly down the steps, Siegfried and the dwarf following after. They passed through long passages which led right and left into the interior of the mountain, in which a person ignorant of the place would soon be lost, for one might wander there days and days without finding an outlet. The giant would doubtless have led the hero through byways into some abyss where he would have fallen headlong, and either have dashed out his brains against the rocks, or perished of hunger and thirst among poisonous snakes. But the giant was afraid of the dwarf, who was well acquainted with the mountain. Upon the walls Siegfried saw the blackened skeletons of various animals of frightful forms and prodigious size. The dwarf told him these were the dragons who for centuries had lived here in alliance with the giants. Some of them still held in their claws the skeletons of those creatures that had fallen their victims. Others still stretched out their jaws, as if to vomit fire and poison. Going further they came to a hall which was so lofty that the highest oak would not have reached the roof. In the middle of the apartment burned a dark red fire, and around it stood a circle of altars of stone stained with blood. This is the great burial place of the giants, said Eugeline, and Siegfried saw their corpses lying in two rows on stone shields with stone clubs.  They now passed through many passages till they came to a hall which shone so bright that Siegfried was obliged to hold his shield before his eyes to prevent being dazzled. The hall looked like a vast arbor. The walls were composed of shining trees which twine their leaves and branches close together. Fruits of silver and gold shone among the dark green foliage, and creeping plants of all kinds wound round the stems. These, however, were none of the plants which grew on the soil of the earth above, but only rare and precious metals that lie hid in the interior of the earth. The most beautiful objects of all were the flowers, which bloomed around in a thousand varied colors. They were the precious stones that lie concealed in the mines. Elves and dwarves, and tiny men of elegant shape and aspect, tripped nimbly to and fro to tend the flowers, to water the trees, and to pluck the fruits.  From this hall Siegfried entered a second constructed of pure crystal. In the midst stood transparent pillars in two rows, and brilliant streams of water poured from them, forming arches of varied colors. The foot of the columns was adorned with costly shells, from which sprung up water-plants, and circling the columns with their flowers. Little water-sprites peeped out from the foliage and held flowers in their mouths, from which they playfully spouted water. Beneath in the green grass sat sea-nymphs, combing their long wet hair. Others were playing on harps, while their sisters danced in graceful movements around the pillars. So strange, yet so sweet, were the tunes to the songs that whoever heard them once could never forget them. The third hall, which succeeded this, was of blue transparent jasper. On the ceiling beamed stars of gold, and the sun and moon sat on shining horses of light, and played at ball with the morning and evening stars. High above was perched a mighty eagle, when he expanded and flapped his wings the breeze floated, now louder, now more gently through the hall, and the birds began to sing around. The giant now complained that he must rest, on account of his wounds, so they seated themselves, and while Siegfried looked around in astonishment, Eugeline, the dwarf king, said, It may well surprise thee how a dragon can have so many splendid apartments, since his abode is the darkness of night. But thou wilt see another chamber, still which outshines this as the noon excels the morning. The halls represent the elements, and for many a century thousands of industrious dwarves have labored here, and the hammer has never been out of their hands.  Yet it was not always so, as my forefathers have told me, There was a time when blessed spirits lived on earth in joy and unity, in dwellings of heavenly light. No sword or pointed dagger was then made, nor did the sweat of slavery run from man's brow. Vases for offerings alone came from our forges, from which pure incense rose up to heaven. Life was a pleasure, and labour sport. An on-bright and shining seat sat the Aussie, the Fathers of Mankind, and read from iron tablets the sacred maxims of eternal wisdom and the laws of the inscrutable deity, whose name none ventures to utter. But from the bosom of night rose Loki, the Prince of Darkness. In a form of beauty, with smiling countenance and seductive speech, such deceiver appeared before the patriarch of our race, who believed his smooth words. They pledged a brotherly love to each other, and in token of amity they mingled their blood. This was the beginning of all evils. The deceived one knew not that the old dragon, the enemy of gods and men, the father of darkness, had infused into him his own poisonous breath. And there also arose from the bosom of the same night where the fiery dragons dwell with savage giants, an evil enchantress who was versed in all black arts. In pleasing form she appeared before our fathers, and on her forehead shone a rich ornament of gold, which she had formed by magic power from stolen rays of heavenly light. And as the Fathers looked in her glowing eyes and the dazzling brilliancy of the false gold and chained their looks, the cunning deceiver whispered to them, an avarice, envy, and discord arose in their hearts. Then all oaths and vows of fidelity were forgotten, and the first battle was fought on earth. Ever since, a fearful curse has rested on alluring magic gold, which was the cause of the evil. The Aussie, when they came to their senses, would feign have destroyed in the fire the enchantress with her treacherous wealth, but thrice she rose from the flames uninjured and laughed them to scorn. When after being pierced with the spear, she was again thrown into the flames. The crafty deceiver approached the fire, took her half-consumed heart from her bosom, and swallowed it. With the heart he became possessed of all her magic arts and power, but he had also imbibed all her wickedness, her evil desires and savage lust. Thus the flames of vice ever burned more darkly and fiercely in his bosom, and he considered only how he might destroy both heaven and earth in one vast conflagration. But the hypocrite would not cast off his dazzling appearance, for he was bent on more surely affecting the destruction of all. Now he married a giantess, a base witch, the daughter of primeval knight, who continually brooded over and foretold mischief, and she produced three monsters, from whom all other monsters have come upon the earth. Her first child was the great serpent of the world, who, concealed at the bottom of the sea, winds his folds around the earth, holds his tail in his mouth, and swallows all that approaches him. If the water becomes too dry and shallow, he turns in raging anger, and the earth trembles at his convulsions. The second monster was the great wolf of the Abyss, who was equaled by no other in savage cruelty and strength. From his nostrils he snorts forth flames, his eyes scatter fire, and he threatens to swallow up both sun and moon with his dark and voracious jaws. The third child of this pair was the princess of the lower world and of death, shuttering odd wells in her looks, and her empire is the dark valleys, where the sun never smiles, and clouds and mists form eternal night. These three children, Loki caused to be brought up among the giants in the land of night, where they grew to enormous size and strength, but he himself kept up intercourse in various forms with our forefathers, and sowed poison and destruction everywhere around. Loki once went forth with Odin and Heiner to wander over the earth. They came to a piece of water named the Waterfall of Anvarai. In the stream sat an otter, catching fish and devouring them eagerly. It was not, however, a real otter, but the son of a powerful enchanter, and the brother of Mimer, the bass smith, and a fafner, the dragon, who dwells here on the rock. Catching fish and hunting were his only pleasure, and he changed himself daily into an otter and caught fish in the stream, which he took home where he sat in a corner and ate them. He had just snapped up a fish when the treacherous Loki, who well knew that he was a man, caught up a stone and killed him. Loki's companions were delighted with their prey and stripped off the skin of the otter. But it so happened that in the evening they entered the dwelling of his father, the old enchanter Raidmar, who by the skin and by their blood-stained hands perceived at once that they had slain his son. With the help of his sons he took away their weapons, made them prisoners, and threatened to be revenged on them, unless by way of atonement they filled the skin of the otter and covered the outside of it with gold, so that not a hair could be seen. Odin and Heiner were compelled to remain with him, for they sent Loki forth to get the gold, because he was the most cunning. So he went again to the waterfall, and there made prisoner a dwarf, who kept concealed in his cave the richest treasure known to mankind. Beside the infinite quantity of gold and diamonds there was also a miraculous helmet, the sight of which makes all living things tremble, a tarn cap which bestows invisibility and strength upon the wearer, and the sword, Baomung, against which no shield is proof. The most precious object, however, was a gold ring of wondrous power. Whoever possessed it was sure never to want gold, for it always increased according to his wish. The ring, however, was made of false gold, which the enchantress had brought from the bosom of night for the purpose of deception, and it was the cause that oaths were first broken and blood was shed in the first battle. On it also rested the primeval curse, for it brought evil on whoever possessed it. Loki compelled the captive dwarf to bring the whole of the treasure from his cave, but the magic ring he concealed under his arm. However, Loki saw the glitter of the gold and insisted on having the ring likewise. The dwarf begged piteously that he would leave him this one of all his treasures, but Loki was inexorable. Then the dwarf went into his cave and uttered a fearful curse on the treasure, that it might bring no good fortune to anyone and on the ring that it might cause the death of anyone who possessed it. Loki now returned to Raidmarg, and they filled the otter's skin with the gold, placed the animal on its feet, and covered it with gold. Raidmar examined the skin and perceiving a single hair required that this also should be covered with gold. Odin took the ring of discord from his finger, and while he was covering the hair with it, Loki repeated the curse of the dwarf. Raidmarg now allowed them to go their way, and from that time the treasure has been called the Treasure of the Nibbolungan, for Raidmarg's family was a race of night, and they were called the Nibbolungan. It was not long before the splendor of the gold ring caught the eye of Fafner, and he longed to possess it, for he was the strongest and fiercest of the brothers, and wished to call his own all that was there. He excited his brother Mimer, and they both went to their father and required their share of the recompense. Raidmar, however, refused to give up the gold and concealed it under his couch that his sons might not steal it, and night and day this treasure was his anxiety and care. But the ring was never out of Fafner's mind. In an evil hour he stole to his father's bed, drew the sword Balmung, and plunged it into the heart of his parent as he slept.  The curse of a dying father had its effect, and Fafner was immediately changed into a fierce and fiery dragon. The flames of burning lust and the poison of consuming envy darted from his jaws, and nothing since has power to assuage his thirst of evil, for he is ever impelled to some new deed of plunder and murder. Mimer his brother required from him some portion of his inheritance of blood, and when Fafner angrily refused him he bowed his death, and for this reason he hath sent thee to him, and longs to drink his blood and eat his heart, for he also thirsts after this accursed gold. Loki, the crafty deceiver who prepared this mischief, did not escape the fearful punishment of his wickedness. He committed many a ruthless act, and became more and more cruel and daring, till at last he perpetrated the most frightful deed that the human heart ever conceived. Odin, the father of the Ossie, had a son, whose whole countenance shone like the sun, and whose mild and gentle looks delighted everyone. Wise was his discourse, and all his sayings came to pass. Before the light which beamed from his countenance, impurity vanished, and sin fled away, hence he was named Baldr, the good, and was loved and praised by all. Now Loki, the evil one, hated no one so much as Baldr the good, and would rather have lost his own life than that he should continue to live. Evil dreams and forebodings troubled the good Baldr. Fearing some dread misfortune the Ossie sent to Frigga, requesting that she would extract an oath from all and everything on earth, trees and animals, stones and diseases, poisons and snakes, that they would not injure Baldr the good, whom also loved. All promised the goddess, and the Ossie, highly delighted, placed the illustrious youth in the midst of them, and in sport threw sharp spears and pointed stones at him. Nothing injured him, for he was sacred to all things. Loki stood by and watched the sport with envious eyes. Then he assumed the form of a woman, went to Frigga, and told her with feigned delight of the sport of the Ossie, and cunningly asked her if all had pledged her their oath, and if none was forgotten. Frigga said, Eastward from Valhalla grows a mistletoe. I passed it by, for it seemed to me too tender to do any harm. When Loki heard these words, he immediately went and cut a slip from the plant for a dart. Then he returned to the sport, and went up to Hooder, who stood by and took no part in the pastime, because he was blind. Loki gave the dart into his hand, and desired him to throw it in honor of the beloved Baldr, and that he himself would guide his arm. Hooder threw the dart, and Baldr fell, pierced and dead on the ground. The Ossie were struck to dumb with terror and grief, and each looked speechless at the other, for they saw in Baldr's death a presage of their own destruction, and that of the whole visible world, since the curse had come upon it through the evil one whom they had received among them, and with whom they had mingled their blood. But Odin forbade them to take revenge, because the spot was dedicated to peace. With great lamentation, they buried the corpse by the seaside, and all the families of mankind, even the giants from the icebergs, came to the interment. Nanna, the wife of Baldr, died of a broken heart, and was buried by his side. Lastly, Odin approached the curse, and whispered in its ear. No one knows the words of farewell he uttered, but some say he spoke of a happy meeting again. Thereupon the Ossie sent Hermodor, the brother of Baldr, down to the pale goddess of the dead, to entreat her to restore the murdered Baldr to the upper world. Hermodor rode for nine nights to the deep valleys of the shades, which led to the kingdom of the dead. Then he came to a stream, and rode over a bridge which shone with gold. It was guarded by a maiden of a bold and confident aspect, armed with sword and shield. What wilt thou here, she cried? Five troops of courses rode over yesterday, and the bridge trembled not thus. Thou hast not the look of the dead. When Hermodor spoke to her of Baldr, she beat him right further toward midnight. He came to a castle, leaped over the high gate, and stepped into the hall of the pale princess of the dead. Around her stood the maidens, who accompanied the dead in their journey to the tomb. Behind her stood a red cock, and at her feet lay pain, weariness, and exhaustion. There he saw Baldr and his wife, sitting on high. But the princess replied to his request, now I can prove whether it be true, as the report declares, that Baldr is so beloved by all, his return to the light shall be permitted if all things alive and dead lament his death. Baldr gave his brother a miraculous ring for Odin by way of remembrance. Then they parted, and Hermodor returned. The Ossia immediately sent out their messengers into the wide world to beg all creatures to release Baldr with their tears. All nature, the birds of the forests, the flowers of the meadow, and the beasts of the field lamented the murdered one, who had been their joy and delight. As the messengers were returning home with joy, they found a hideous giantist sitting in a cave who exclaimed, No tears will I shed for the one whose life or death troubles me not. The pale princess of the shades may keep him. The messengers at once perceived that this was no other than the base Loki, the old murderer and liar, who thus prevented the deliverance of Baldr, and they returned home sorrowful. Loki, however, urged by the fear of punishment and haunted by the thoughts of his own wickedness, flew off to a mountain where he built a house with four gates, facing the four winds. All night he watched. In the day he changed himself into a fish and concealed himself in a waterfall. But fearing that they would catch him there, he made himself skillfully a little net that he might practice how to escape from its meshes. But the wicked Loki was caught in his own snare, for as he was weaving it, the Ossie came. He quickly threw the net into the fire and leaped into the water. But the Ossie saw the enchanted net and the flames and immediately made one exactly like it, as broad as the stream in which Loki had hidden himself. Then they stretched it out and went along the stream to catch the cunning serpent. Loki swam away from the net and concealed himself between two stones so that the net passed over him. Still they could perceive that something living had touched it, so they fastened heavy balls to it, and the net then sank so close to the ground that Loki could not creep away from it. Then he swam to the mouth of the stream, and they saw him suddenly leap over it and turn back to the waterfall. So they returned back a third time, divided themselves into two bands, and one of them, Thor the Strong, went through the middle of the stream. Loki was again driven towards the sea. He was afraid to swim into it and leaped into the air. When, swift as lightning, Thor caught him and held him by the tail. They bore him immediately to a dark and deep cavern, and then piled up three stones, through which they boreed a hole. A son of Loki changed into a wolf was there, devouring his own brother, and with the entrails of this infernal offspring they bound the father fast to the stones, for no other tie could hold him.   She holds a cup under the snake and catches the poison. But when she goes out to empty the cup, as it becomes filled, and the poison drops like fire upon his brow, he writhes in anguish, so that the whole earth trembles, and thus he must ever live, until that day when heaven and earth shall be destroyed.  While King Euglain related this with a very serious and solemn air, the giant had leaned his head on his hands and fallen fast asleep, and it was with the greatest difficulty that Siegfried could awaken him. Then they went quickly on, and came to the fourth hall, which, as Euglain said, surpassed the others in miraculous splendor. Around the walls burnt fire, white flames in blue, and red and green wound round in figures of varied kinds, flowers and birds and beasts. Then suddenly a thousand sparks shot forth and transformed themselves in the air into shining stars, golden crowns and wreaths of flowers. In the middle of the hall was a basin with a golden rim, from the midst of which grew an ash tree that reached to the ceiling. The ground in which it stood was crystal clear, so that all its roots could be seen as if it stood, mirrored in a lake. Siegfried could not sufficiently admire this tree, which the dwarfs had so skillfully made. Green leaves and golden fruits adorned the widespread boughs and dropped their dews of honeyed sweetness. Above, on the summit, sat a royal eagle with a bright and piercing glance and spread out his broad wings. On his head stood a hawk. Below on the ground were standing, on the four sides, four stags, which stretched out their necks upwards and ate the leaves of the tree. Three roots ran from it into the crystal basin. The middle root went deep into the abyss below. There lay an enormous dragon, enveloped in darkness, swelling with poison and gnawing incessantly at the root. Around him crawled a thousand poisonous serpents and hungry wolves, and a dark vapor ascended from the pit. In the midst of it was a seat on which sat a female, with a crown on her head, a pallid countenance, and with a dark dress. Behind her on the back of the seat stood a large, flame-coloured cock, at whose feet grazed the raven-black horse near a rushing stream. The second root ran from the ash towards the north. There masses of ice lay piled up on each other, and therein sat great giants around an enormous horn from which issued a spring. Opposite to this root ran a third, which was surrounded with light, and from a spring near it came forth sky-blue water. Two white swans were swimming in the water, and three beaning maidens stood on the margin and took up water in golden vessels and sprinkled the tree. Around the spring were placed twelve royal seats or thrones, upon which sat princes and princesses with golden crowns. A squirrel ran nimbly up and down the trunk, from the eagle on the top to the serpent below. Siegfried looked at all this with amazement and asked the dwarf what was the meaning of the tree. That, replied the wise king, is the celebrated ash tree Yggdrasil, an image of the world. The leaves of the tree are the clouds, and the golden fruits are the stars of heaven. The eagle that floats above is the king of heaven, who with searching eye overlooks the world. The stem is the earth, and thence a root goes down into the depths below, where sits the princess of the lower world.   The dragon that bombets flames, and the serpents are the subterranean fire and fierce storms which agitate earth and sea, and the wild desires and passions which disturb the breast of man, and undermine his life, and knock continually until the tree is destroyed. The beautiful fountain with the golden seats near the second root to the right is the south portion of the world. The three maidens are the three fates who spin the thread of life. The two swans of light are the sun and moon, and around shine the princess of heaven with their crowns. The root on the left is the north portion of the earth. There stands the lofty icebergs, there rises the sea, and there lies the great horn from which at the last day, when the six winters of the world have passed away, the summons to the last judgment will be sounded. Its call will summon all, from the highest heaven above to the deepest abyss below. The leaves of the tree will tremble with fear, and its boughs will shake, and the earth will be convulsed, and the sea will roar. Then all ties will be loosened and torn asunder. The serpent of the world will rise out of the water, the wolf will spring howling from the abyss, and open wide its jaws at heaven. The dwarfs will sigh at the gates of rock, fires will rage around the tree of the world, the sun and moon will be swallowed up by the wolves of darkness, and the stars will fall from the sky.  The deity, who first created all things and sent light into the world, will consume the corrupted earth with his purifying fire. When, however, the last battle has been fought, when the dying heroes shall have conquered the powers of darkness, and the flames have consumed the world, then a new morning will dawn in the heavens. A new and more happy earth will arise, the seeds will grow up of themselves, and sparkling waterfalls will gush forth over the smiling verger of the meadows. Then the good will receive their reward, and will again become possessed of the brazen tablets of eternal wisdom, which they lost in the beginning of time. But the bad, the purgerers, murderers, and deceivers will wade in streams of poison on the strand of corpses in the Hall of Serpents, and the old dragon with his brood will fall into the abyss. End of the Twelfth Adventure The Thirteenth Adventure of Siegfried the Dragon Slayer by Anonymous. This LibriVox recording is in the public domain. Recording by Phil Schempf. House Siegfried first sees the king's daughter and is received by her. Thus speaking, they enter the lofty chamber by an iron door. Around on the walls hung in double rows helmets and shields, and between them, in wild disorder, splendid garments embroidered with gold, drinking horns ornamented with silver and silken banners. But all looked desolate and waste. The garments were stained with blood. The helmets and shields were rusted. Over the drinking horns large spiders had woven their nets, and the banners were yellow with smoke. By the general disorder it might easily be seen that it was all the produce of pillage, but the most fearful objects that met the eye in this robber's den of the dragon were black iron pillars which ran through the hall. Around them were fastened horns of the deer and the aurochs, and on every point of these horns was stuck a naked skull. Siegfried, sword in hand, danced around the apartment, but neither the dragon nor the maiden were to be seen. It now appeared as if his ear caught the sounds of music not far from him. He went in the direction in which it came and looked through a high vaulted gallery on the distant landscape. At the end of this passage he saw a maiden seated on a rock with a harp in her hand. She looked down into the wooded valleys and sang and played, whilst a falcon sat upon her harp, as if listening to her. Siegfried stood still with his companions and hearkened as she sang thus. My father sat within his hall and drank the red and cooling wine. He drank from out a cup of gold at verms upon the dark green rind. My mother held the silken threads within her hand so lily white and worked upon the cloth of gold the deeds of hero and of knight. My brothers threw the dice in sport for swords and arms enriched with gold. The while I sat within and sang the deeds of knight or hero-bold. But swift descending from above a dragon fierce was seen to glide. He twined his folds around my form and said, Come hence and be my bride. My father dropped his cup of gold.  My brothers drew their swords in vain. The dragon bore me from their sight. And long may I here sit and sing my lay upon the Drakkenstein. My song will never reach, dear friends, to you upon the dark green rind. And long may I lament in vain. Young valleys lie so far so deep. I never can my woes explain. Oh, would I in the grave could sleep. The singer ceased, interrupted by her tears, but she quickly and more vigorously seized the strings and renewed her song. Yet fey art thou a captive, forever doomed to be. What hinders thee to venture to venture to be free. One effort still may save thee than why delay so long. Our fear and fright such fetters is the dread of death so strong. Oh, no, the father's spirit still liveth in the heart. It shrinketh not from danger, nor dreads from life to part. Oh, then sound my harp strings and echo my lay. Ye both shall attend on my dangerous way. For hence I would flee and find myself free. Then take me, ye breezes, and raise me above, and waft me away to the region I love, where spring's soft bowers are filled with flowers, nor leave me to wander uncertain my flight, but grant me the blessing, the blessing of light. Hence, hence let me flee from dragon's haunt free. When she had ended her song, she turned to the abyss, but at this moment Siegfried sprang towards her and held her back. Stay, thou noble daughter of a king, he cried. Here stands Siegfried, the son of King Siegmund, who will die or plunge the dragon into this abyss. Cease, therefore, from weeping. Thy sorrow shall be changed to joy, and the dragon shall crouch in the dust before thee, and shall atone for thy tears with his heart's blood. Thanks, valiant hero, for thy aid, but haste away from hence. Thou canst not save me, but wilt only perish here, and thus increase my grief. No, replied Siegfried, here I will fight for thee, for otherwise shame would strike me to the heart, which is sharper than iron itself. When a child I made a vow never to turn my back upon fire or sword. Thou knowest not what thy tongue utters, answered the maiden, tis madness to contend with that horrid creature. Wilt thou place thyself on the very spot where lightning strikes? No sword can pierce his scales, and steel itself melts before his flaming breath. Return and bear to my parents and brothers my last farewell. Nay, lady, unworthy were I to be called the son of King Siegmund, nor could I ever dare to look my noble ancestors in the face and fight as they did the great battle of the world. Were I to flee like a coward? Never has fear stained the honour of our race, and when, once my sword gleams in my hand, victory or death can alone return it to its scabbard. Alas, interrupted the dwarf, thy sword can little help thee. One sword alone, Balmong, the sword of the Nibelungen, with which Fafner slew his father, has the power of giving the dragon his death wound. For this reason he keeps it concealed, and if the maiden cannot reveal to us this secret, all conflict is vain. The king's daughter said that she had never heard of this sword. Then much I fear, said the dwarf gloomily, that our death is not far distant, for never wilt thou slay the dragon with the sword thou bearest, and of this I will give thee a proof. Thereupon he sprang suddenly into the hall, and returned with a large and ancient shield, which he could only just drag after him. As vainly may your sword attempt to cut the dragon's skin that is stretched over this shield as to wound the dragon himself. Then Siegfried swung his sword above his head with both hands, and dealt so powerful a blow that it resounded through all the halls of the Hollow Mountain. But the shield remained uninjured, and the sword broke off at the handle. At the sight of this all were lost in amazement. The dwarf wrung his hands, and the maiden entreated Siegfried to fly. But the hero was still undaunted. He yielded not a step, and said, To the brave man, courage is more than a good sword, and my courage at least is yet unbroken. My arms are still strong, and with them I will slay the dragon, for to the just, heaven will give strength and victory. As thou art a bold hero, said the giant, who had hitherto kept silence, and thy magnanimity has granted me my life, thou shalt now reap the fruit of my services in return. I once slept near the dragon. He had just had a hard battle, and threw himself down to sleep, when, in a dream he exclaimed, Ho-ho! They cannot kill me yet, for they know not that the sword lies hid in yon corner. I sought for the sword in that corner, and found it, only lift yon stone, and you will see a ring beneath which it lies. Siegfried, overjoy, hastened to the spot, removed the stone, raised the ring with both his hands, and beneath it, like a bright flame, lay the glittering dragon's sword. He stooped to lift it up, but the faithless giant took his dagger and aimed a blow at Siegfried's neck, at the spot where the linden leaf had fallen.  But the giant now seized the hero, and clasping him with both arms from behind, dragged him to the abyss, in spite of the furious attacks of the dogs. The king's daughter fell weeping on her knees, rung her hands, and prayed to heaven. While the giant laughed aloud, as if certain of victory, Siegfried, however, twined his arms around the body of the false monster, and pressed so strongly into his wounds that all his strength passed away, and the giant lost both sight and hearing. His black blood flowed in broad streams. He roared and cursed himself and the hero, on whom he still kept a firm hold, with his last strength to pull him into the abyss with himself. But it was all in vain. Siegfried loosened himself from his grasp, and at length pushed him into the chasm. With a hollow sound, he fell into the mighty depth below, and as he fell, he broke a sunder, an enormous oak which covered his corpse. End of the Thirteenth Adventure The Last Adventure of Siegfried the Dragon Slayer By Anonymous This LibriVox recording is in the public domain. Recording by Phil Shempf Siegfried's Fight with the Dragon Siegfried was now desirous to try the sharpness of his sword, and it glided through the dragon's shield like water and went deep into the rock. All were full of joy when they saw this, but the wise dwarf alone looked grave and said, "'Thou hast a harder battle still to fight, and thou requireest meat and drink to refresh thee for it.' Then he blew his little silver horn, an added shrill sound there came forth from the crevices of the rocks, dwarves, white and gray. Then they spread a carpet and brought meat and drink of all kinds, and Siegfried sat down and ate, and the maiden offered him a golden drinking horn saying, "'Hail to the hero of the Netherlands! Hail to the bold son of Siegmund! Hail to the fighter with the dragon! Siegfried!' The hero drained the cup and said, "'Truly never did I feel so inspired with courage and never long for the chase of the boar in my father's forests as I now do for the contest with this hideous dragon, the keeper of the treasure of the Nibelungen. If my forefathers stood here in a circle as they stand around the walls of our halls at home they would indeed rejoice in the contest, for the sound of my sword shall re-echo far around and gladden the heart of many a hero. Come what may, I dread none on earth, and I stand here on this stone, armed and prepared with this uplifted sword to meet the fight.' As he spoke thus a roaring sound was heard, which vibrated nearer and nearer, as if the mountain was shaken and falling into ruins. Thereupon the maiden was struck with great terror, but the eyes of Siegfried glanced like two flaming swords, and he bade her be of good cheer, saying, "'The author of light gave us life, and how shall the dragon of darkness take it away? My sharp and gleaming sword shall dazzle him so that he shall not be able to distinguish the day from the night.' As the evening twilight arose the dragon came slowly onwards, hovering like a dark storm cloud. Siegfried advanced and met him on the edge of the rock. Near him stood his two faithful dogs. The maiden drew back, and the dwarf put on his cap of mist and crept into a crevice of the rock. Three times did the dragon fly searching around the stone, for as yet he had not seen the hero. But just as he was about to lie down, he perceived Siegfried, and sending forth furiously blue flames, he lashed the earth with his tail. In a moment the hero's shield was covered with blue flame, and became glowing hot. His dogs were about to fly at the monster, but they fell dead to the earth at his first breath. The poisonous flames darted more and more fearfully on Siegfried, and to cool himself he was forced to withdraw into the vaulted gallery of the mountain. Thither the dragon could not follow him, for the passage was too narrow, so he remained spouting forth fire at the entrance, and knew not how to get in. Nor did Siegfried know how he should reach the dragon with his good sword. In this difficulty he looked around, and saw a lie near him, a huge stone, which ten men could not have lifted. Remembering his great ancestors he seized it, and threw it in the gaping throat of the pestiferous monster.  But the blows of Siegfried's sword at first produced no effect. The scales were hard as diamonds, and the sword flew back. On a sudden, as he was striking with all his might, he heard a plaintive tone, which seemed like the voice of the dwarf, as if calling for help from the dragon's jaws. And so it was, for the dwarf had seated himself under his invisible cap of mist upon the stone which Siegfried had thrown into the dragon's mouth. And now he called out in terror, lest Siegfried should kill him. When the dragon heard the cry of the invisible dwarf, he turned round. But at that moment Siegfried dealt him with a heavy blow on his neck, at the point where the scales were a little parted. The sword struck into the neck, and the pent-up flames burst through the wound at the side, so that Siegfried was now safe from them. The little dwarf crept quickly out of the wound. The dragon raved still more with the pain. He fell on Siegfried, snatched his shield, and snapping it like a laugh, he flew at the hero's head. But Siegfried too was now fired with rage, and grasping his sword firmly, struck off the monster's right claw. Thereupon the dragon roared with fury, swung his tail around, and strove to entwine the hero in its folds. But Siegfried at a bound, leaped high above the tail, and now ran with such force against the monster that he threw him backward on the ground. Then seizing his sword with both hands, with the first blow he drove it two spans deep into his breast. At the second he cut his heart through and through, so that the sword sank deep into the stone. And as he was about to give a third blow, he himself fell senseless beside the monster, which in the death struggle was consumed in its own fire. Such was the great fight with the black poisonous dragon, who guarded the treasure of the ancient curse, by which the hero of the Low Countries acquired fame and glory above that of all his fathers. The deeds he wrought with his sharp sword at the Drakkenstein have resounded for centuries from north to south in many a heroic lay by the ancient minstrels. Nor can the name of Siegfried the Dragonslayer ever pass away as long as German song is sung. Pale as death laid the exhausted hero for a long time. Then he fetched a deep breath and slowly opened his eyes. But how great was his sorrow when he saw lying near him the king's daughter, pale and motionless as a corpse. He sprang up, took her in his arms, called on her by name, but she awoke not, nor gave any signs of life. The hero began to lament, allowed his misfortune, when at length Euglain the dwarf came stealing by. He looked about on all sides and was overjoyed when he saw that Siegfried had slain the dragon. He immediately went to the virgin, took a root from his girdle, and with it sent awoke her to new life. The joy of Siegfried was only equaled by that of the beautiful daughter of the Rhine King. And Euglain, too, was so delighted at their deliverance from the dragon that he begged the hero to claim from him whatever he liked, gold or diamonds, costly ornament or weapons, for all were at his command. Siegfried thanked him for his offer, but said that his deliverance of the maiden was reward enough for him. If, however, he desired to do him a favour, he would ask him, who was so well informed of the future, to tell him his destiny. The dwarf immediately placed his bright gleaming shield on a table of stone and held a handful of dry grass to the sun, which forthwith burst into flame. Then he threw a precious perfume over the shield. A singular odor diffused itself around, but the dwarf inhaled the vapor, his eyes closed, and turning a costly ring on his finger began, as if in a deep slumber, to pronounce the following invocation. As the falcon in its motion flies in circles round and round, seeking both or land and ocean, where its prey may best be found, so the venerable sage, turning still his magic ring, sees through many a coming age, many a dim and distant thing. On this he ceased a while, then pointed with his finger to the south, then to the right and left, as if forms surrounded him on every side, and then announced the marriage of Siegfried with Creme Hilda thus. Rosie gardens on the Rhine, meadows full of bright sunshine, through which wander streamlets fare, stags and robux, pair and pair, foliage with the feathered throng, warbling wild the woods among, while the silken thread encloses all this fairy bower of roses, many a night with marshal tramp watches round the forest camp, from the branches, from the trees, penins wanton in the breeze, round the throne so fair to see, all of golden ivory. Ladies look on scene so fair, brave knights look on ladies there, one his proud come peers out vise, like the sun in yonder skies, like the moon in modest pride, one sweet maiden is his bride, for to her that hero youth gives a ring in pledge of truth, all the maidens softly sigh, all the youthful heroes cry, hail to Siegfried and his prize, this, oh this, is paradise. But an evil dame is nigh, malice in her heart nigh, and she brings the bride so fair, three young rosebuzz sweet and rare, take the purest of the three, take, she cries, tis meant for thee, but beware, sweet bride, beware, for a thorn is lurking there, see it wounds thy finger fair, bride, why stops thy sobbing breath, bride, why art thou pale as death? The dwarf was silent for a while, and then turning towards the west, began to sing thus of Siegfried's death. Hunter's horn and hunter's song, wolves and bears together throng, through the wild wood runs the bore, hounds that follow bark and roar, foxes creep in corners sly, birds are twittering in the sky, two white does in flight are seen, and a stag in clover green, hark a sound of hunter's horn, by the breezes hither-born, through the deep woods dark defiles, where the sunbeam never smiles, hark three dismal ravens croak on a dry and withered oak, and their dark foreboding song tells a tale of death and wrong, and the streamlet's gentle flood flows with warm and vital blood, stretched upon the fallery heath, see a hero sleeps in death, howling wild his faithful hound, licks in vain his deadly wound, while his falcon from his breast drives the ravens to their nest, see his stainless sword and shield lie unused upon the field, he hath never seen his foe, treachery laid the hero low, in his halls two women fair, sit in fierce defiance there, frowning darkly each at each, dating not a word of speech, hastening from the neighbouring wood come two nights all stained with blood, of the women one is glad, but the other pale and sad, one has drained a cup of gold, sinks the other pale and cold, one the thought of rage inspires, but revenge the other fires. Finally the dwarf turned towards the north and sang with a hollow voice the revenge of Creme Hilda, hero's feast within a palace, guests all wear a festive wreath, but their mirth is changed to malice and their dance to a dance of death. Shrieks of horror, shrieks of anger tell the fury of their strife, answering fierce the trumpets clanger, stern demanding life for life. Sword and shield in strife are meeting, steel and iron sternly strive, and of the guests that late were greeting few shall quit the spot alive. In that hall of strife and treason many a bravest night must yield, like the sheaves in harvest season, courses strew the fatal field, but in death their hate is banished, foemen fall beside their foe, and their hatred hath but vanished, now that death hath laid them low. Wandering where the dead are lying, say what mystic form appears, did the wounded and the dying, tis a woman bathed in tears. Fire has seized the hall around her, while its vapors choke her breath. Shrieks claims, while flames surround her, we have died for Siegfried's death. Thus sang the dwarf of the fate of future days. Siegfried and the maiden were deeply affected by the serious tone of his song, although they had not understood all that he said, that they perceive that bleeding forms look through the mist that surrounded the hole, and that these were lighted rather by fierce and fatal lightning than by the gentle rays of sunshine and peace. When the dwarf had ended he took his leave, saying that he must descend deep into the mountain, whither his dwarfs had fled, anxious for the result of the contest, for he would bring them the glad intelligence of victory. Then he bade the hero farewell, and promised, if he should require his aid, to assist him with all his power and all his wealth, adding that he would find two horses ready for mounting at the mouth of the cave. Siegfried thanked him, and the dwarf disappeared in a crevice of the rock. The hero and the king's daughter rested for a while on the summit of the Drakkenstein and looked at the far distance over the lofty wooded tops of the mountains, the green plains and veils, the barren heaths, and silver streams. Then they examined everything in the cave, and came to the dragon's couch, which he had made of the skins of lions. Siegfried lifted up the skins, and a dazzling light burst upon his sight, and the treasure and the ring lay before him. But he forgot the warning voice of the dwarf concerning the ancient curse which lay on the gold of the Nivalungen. He took the treasure of discord and envy, and hence, at a later period, the words of Eugeline came to be fulfilled, and he and his whole race were annihilated by fire and sword, like those who had possessed it before. The treasure, however, was cast into the Rhine, where it may rest until a holy hand shall find it, over which the curse has no power. Here, however, ends this tradition, and its sequel has been said and sung in other songs and legends, in which, reader, thou mayest hear how Siegfried celebrated in the rose garden of Worms his marriage with Creamhilda, how he gloriously contended in seven conflicts, winning heroic fame, and how he was slain in the forest by the cruel haugen at the instigation of Brunhilda, but was fatally avenged by Creamhilda on the giants, their brothers and relations. But the good town of Worms, where Siegfried celebrated his marriage, and where he was treacherously slain, honoured his memory by a praiseworthy custom for centuries after, out of gratitude for its deliverance from the cruel dragon. When a minstrel sang his deeds publicly before all the people in such a manner that the judges appointed could find no fault, a piece of gold was awarded to him by the council of the city. In our poor times, this ancient custom no longer exists, but in former days the city caused the figures of Siegfried and the ancient race of kings to be painted in different places, at the council house, at the mains gate, at the new tower, and at the mint, where the bones of the dragon hung in chains of iron. Siegfried's spear was preserved, and the rose garden is still shown. And when, in 1488, the Emperor Frederick III was at Worms, he ordered the bones of the hero to be sought for in the churchyard, but nothing was discovered. Certain it is, however, that up to the present day the armorial bearing of Worms is the giant's key, which locked up the stone and the supporter, the fiery dragon whom Siegfried slew, and that his memory lives in the songs of many a minstrel and in the hearts of the people. End of the Last Adventure End of the heroic life and exploits of Siegfried the Dragon Slayer by Anonymous