11. "Hail to you, gods! | ye goddesses, hail! Hail to the holy throng! Save for the god | who yonder sits, Bragi there on the bench."

Bragi spake:
12. "A horse and a sword | from my hoard will I give,
And a ring gives Bragi to boot,
That hatred thou makst not | among the gods;
So rouse not the great ones to wrath."

Loki spake:
13. "In horses and rings | thou shalt never be rich,
Bragi, but both shalt thou lack;
Of the gods and elves | here together met
Least brave in battle art thou,
(And shyest thou art of the shot.)"

Bragi spake:
14. "Now were I without | as I am within,
And here in Ægir's hall,
Thine head would I bear | in mine hands away,
And pay thee the price of thy lies."

Loki spake:
15. "In thy seat art thou bold, | not so are thy deeds,
Bragi, adorner of benches!
Go out and fight | if angered thou feelest,
No hero such forethought has."

[13. Sijmons makes one line of lines 4-5 by cutting out a part of each; Finnur Jonsson rejects 5 as spurious.

14. The text of line 4 is somewhat obscure, and has been {footnote p. 157} variously emended, one often adopted suggestion making the line read, "Little is that for thy lies."

15. Adorner of benches: this epithet presumably implies that Bragi is not only slothful, but also effeminate, for a very similar word, "pride of the benches," means a bride.]

11. "Heilir æsir, heilar ásynjur
ok öll ginnheilög goð -
nema sá einn áss er innar sitr,
Bragi, bekkjum á."

Bragi kvað:
12. "Mar ok mæki
gef ek þér míns féar,
ok bætir þér svá baugi Bragi,
síðr þú ásum öfund of gjaldir,
grem þú eigi goð at þér."

Loki kvað:
13. "Jós ok armbauga mundu æ vera
beggja vanr, Bragi;
ása ok alfa, er hér inni eru,
þú ert við víg varastr
ok skjarrastr við skot."

Bragi kvað:
14. "Veit ek, ef fyr útan værak,
svá sem fyr innan emk,
Ægis höll of kominn,
höfuð þitt bæra ek í hendi mér;
lykak þér þat fyr lygi."

Loki kvað:
15. "Snjallr ertu í sessi,
skal-at-tu svá gera,
Bragi bekkskrautuðr;
vega þú gakk, ef þú vreiðr séir;
hyggsk vætr hvatr fyrir."