Lyrics:

Odin:
'Brothers, my eyes saw them settle across the river
Down to the east lives a race comparable to us
And they worked mighty miracles, it seemed like magic
I felt the might and the power of their spirit.'

A tribe of sorcerers - The Vanir being their name
How can it be, we haven't noticed them - What a shame
I have seen what they are able to do - Casting magic spells
They might be a dangerous menace for us - They shall not dwell

Odin:
'Æsir, I know that the strangers seem to be peaceful
But to us they might become an enemy
We have to be very careful in times to come
So we have to observe the Vanir'

A tribe of sorcerers - The Vanir being their name
How can it be, we haven't noticed them - What a shame
I have seen what they are able to do - Casting magic spells
They might be a dangerous menace for us - They shall not dwell