Sigurd was taught many things as he grew up, by his foster father Regin, who was the son of Hreidmar. As a young man, Sigurd, on the advice of Regin, went before the king and asked for a horse. The king told him to choose a horse, and anything else you want. The next day in the forest Sigurd met an old man with a beard. The old man asked Sigurd where he was going, to which Sigurd replied, " To choose a horse." The old man then said, " Let us drive them into the river Busiltjorn." Together they drove the horses into the river. All swam ashore but one. A young gray horse. Sigurd chose this one. Before leaving Sigurd, the old man told him, " This horse is descended from Sleipnir. Raise him well, and he will be better than any other horse. It was of course Odin in disguise that Sigurd had met. Sigurd gave the horse the name Grani.
Regin then told Sigurd that he needed to acquire wealth. Sigurd asked where this wealth was hidden, and who was watching it. Regin told him that in a place called Gnita - heath, it was being guarded by a man named Fafnir, who had assumed the shape of a Dragon to protect this great wealth. What was not known about the gold was that it had been cursed by a dwarf named Andvari after it was taken from him by Loki. Loki took it to pay the ransom they owed, ( Loki, Odin, and Hoenir ), for killing a man in the shape of an otter.
Sigurd then asked Regin to make a sword that had no equal. Regin's first two attempts failed, each sword breaking when struck against Regin's anvil. Sigurd then went to his mother, Hjordis, and retrieved, the broken sword that Sigmund had given to her. Regin was given the pieces to make a mighty sword with. And Regin did make a fine sword this time, and when Sigurd struck it against the anvil it split the anvil to its base. To again test its sharpness he took a piece of wool and threw it into a river, and put the sword in front of it. The wool was split in half ! Regin then told Sigurd to fulfill his destiny, and kill Fafnir and take his gold.
To kill Fafnir, Sigurd, decided to dig a pit and wait for Fafnir's return. He would run him through as he slithered by. As Sigurd was digging the pit an old man with a beard came along and said , " Thou doest after sorry council : Rather dig thee many pits, and let the blood run therein; but sit thee down in one thereof, and thrust the worm's heart through." (In some versions of the story Fafnir is called a worm.) Once again this is Odin interceding in the lives of the Volsungs. Sigurd takes the old man's advice and kills Fafnir , and takes his gold.
It is said that Sigurd roasted the heart of the great dragon, an when a drop of the juice hit his tongue, he was able to understand the language the birds were speaking. A bird then tells Sigurd of Regin's treachery. Sigurd, angered, kills Regin for his lies.
Next : The Propecy of Gripir.
Go with Odin's wisdom, Freyja's love and Thor's protection !