In the churchyard of the village of Orkesta, just north of the city of Stockholm, there are two eleventh century rune stones. One of them, in a few brief words, tells the world of the extraordinary achievements of Ulf of Borresta, who lived nearby. During a long career as a Viking raider, he became extremely rich on the proceeds of extortion: Danegeld. The carved runes mention the names of real Norse historical figures with whom he ravaged the English countryside. These names can be dated and the raids and battles where the Danegelds were won, identified.

This novel relates about how, over almost 30 violent years, Ulf acquired a fortune in English silver and how it lifted him from a life of poverty to one of wealth and power. However, though he succeeded in becoming rich, it was at the cost of losing the woman he loved.