Getting ORA-01031: insufficient privileges when data dictionary table is being used in a view

I must admit I have been consulted in these situations before, but since then I had forgotten how it worked and failed to take notes on how to solve it.

So here it is: a user is getting a run-time error ORA-01031: insufficient privileges when accessing his view.
The view is based on his own objects and a lookup to the dynamic performance view V$DATABASE.

Example:

connect scott/tiger

CREATE VIEW MYVIEW AS
SELECT 
FROM MYTABLE MT,
     V$DATABASE DB
WHERE....
AND... ;

If the user has only SELECT ANY TABLE, Oracle will return runtime error ORA-01031 when the view is compiled.

However, if you give user scott the SELECT privilege on the table directly:

GRANT SELECT ON V_$DATABASE TO SCOTT;

then Oracles rules for object creation is honored and the runtime error will disappear.