This is the sequel to Trailblazer's New Life. Following those events, he now gets more of a chance to spend time with his new friends in Ponyville. One night around a campfire, he tells the story of a unimaginably valuable treasure that has been locked away for over 2,000 years from his ancestors in Tethleon.
At first, it seems like nothing bad can come from it, as the memories of what the treasure is have faded away through time. But, on one fateful night, at a Canterlot dinner party, Trailblazer's enemy, Black Hole, breaks in and seeks revenge against him. The reason? Trailblazer was a bully as a foal, and Black Hole was one of his prime targets. Black Hole also claims that he knows what the Tethleon treasure is, and kidnaps AppleJack so that she can be used with the treasure to dominate the world.
As Black Hole sees it, it's his world, and once it is taken over, Trailblazer and AppleJack will be gone. As Trailblazer travels up to the north to the Crawnite Mountains, where Black Hole works at unlocking the treasure, he sees for himself how bad of a world it can be if it is run by those who choose to be evil.