Page 5: So, I mean, come on. That scrawny little goblin's no match for the knight and his glittering armor and shining sword. The Golden Knight catches up with the goblin, the goblin becomes afraid, drops the pendant, and runs off. The Golden Knight returns victorious! End of story.
Page 6: The Golden Knight returns with the pendant, and everyone praises him for slaying the goblin! Unfortunately, the knight is overcome by guilt (if this were Spenser, it'd be spelled "Gvilte"). He's hung up on the fact that the goblin popped up so quickly and swiped the necklace. After all, if he couldn't prevent the goblin from getting to the princess's throat, how on earth could he protect her from any other evil? Further, he feels guilty for taking credit for killing the goblin, when really he did no such thing. So he has this breakdown, which, since this is an allegory, manifests itself physically as a storm (and the loss of his holy halo! Oh no!). The princess and the king, however, really don't get it. "Dude, stuff happens, man; get over it," they say, but he's all like, "Psh!", and stalks off.