He says that Odinn could never settle a battle between men and that he has often given victory to the weak. He also says that Odinn has made poison, hit drums like a fortuneteller and dressed up like a sorcerer. Loki says that it proves that Odinn does not have the character of a real man.
Loki says that Njordur had a son with his own sister and that was probably the best he could do.
He says that Tyr could never settle an argument between men. He then teases Tyr by mentioning how Tyr lost his arm in Fenrisulfur's (The wolf Fenrir's) mouth.
He says that Freyr sold his sword for the daughter of Gymir and that Freyr was nothing without his sword.
Loki says that Byggvir is a whimp that does everything that Freyr tells him to do. He also says that Byggvir is selfish.
He says that Heimdallur deserves his miserable life.
He says to Thor that he should stop telling boring stories about his trips to the east and then he insults him more.