Loki:
"Hail, Æsir!
Hail, Asyniur!
And ye, all-holy gods!
all, save that one man,
who sits within there,
Bragi, on yonder bench."

Bragi:
"I know that were I without,
as I am now within,
the hall of Ægir,
I thy head would
bear in my hand,
and so for lying punish thee."

Loki:
"Valiant on thy seat art thou, Bragi!
but so thou shouldst not be,
Bragi, the bench's pride!
Go and fight,
if thou art angry;
a brave man sits not considering."

Idunn stepped in to protect her husband.

Idunn:
"I pray thee, Bragi!
let avail the bond of children,
and of all adopted sons,
and to Loki speak not
in reproachful words,
in Ægir's hall."

Loki:
"Be silent, Idunn!
of all women I declare thee
most fond of men,
since thou thy arms,
carefully washed, didst twine
round thy brother's murderer."

Idunn:
"Loki I address not
with opprobrious words,
in Ægir's hall.
Bragi I soothe,
by beer excited.
I desire not that angry ye fight."

Gefjun:
"Why will ye, Æsir twain,
here within,
strive with reproachful words?
Lopt perceives not
that he is deluded,
and is urged on by fate."

Loki:
"Be silent, Gefjun!
I will now just mention,
how that fair youth
thy mind corrupted,
who thee a necklace gave,
and around whom thou thy limbs didst twine?"

Odin interfered, but Loki called him "unmanly" as well.

Odin:
"Knowest thou that I gave
to those I ought not -
victory to cowards?
Thou was eight winters
on the earth below,
milked cow as a woman,
and didst there bear children.
Now that, methinks, betokens a base nature."

Loki:
"But, it is said, thou wentest
with tottering steps in Samsö,
and knocked at houses as a Vala. (Vala: seeress)
In likeness of a fortune teller,
thou wentest among people;
Now that, methinks, betokens a base nature."
Frigg tried to defend her husband.

Frigg:
"Your doings
ye should never
publish among men,
what ye, Æsir twain,
did in days of yore.
Ever forgotten be men's former deeds!"

Loki:
"Be thou silent, Frigg!
Thou art Fjorgyn's daughter, (Fjorgyn: the earth.)
and ever hast been lustful,
since Ve and Vili, it is said,
thou, Vidrir's wife, didst (Vidrir: another name of Odin, Ve and Vili: Odin's brothers)
both to thy bosom take."

Freyja:
"Mad art thou, Loki!
in recounting
thy foul misdeeds.
Frigg, I believe,
knows all that happens,
although she says it not."

Loki:
"Be thou silent, Freyja!
I know thee full well;
thou art not free from vices:
of the Æsir and the Alfar,
that are herein,
each has been thy paramour."

Freyja:
"False is thy tongue.
Henceforth it will, I think,
prate no good to thee.
Wroth with thee are the Æsir,
and the Asyniur.
Sad shalt thou home depart."

Loki:
"Be silent, Freyja!
Thou art a sorceress,
and with much evil blended;
since against thy brother thou
the gentle powers excited.
And then, Freyja! what didst thou do?"

Njörðr:
"It is no great wonder,
if silk-clad dames
get themselves husbands, lovers;
but 'tis a wonder that a wretched man,
that has borne children, (i.e. the horse Sleipnir)
should herein enter."

Loki:
"Cease now, Njörðr!
in bounds contain thyself;
I will no longer keep it secret:
it was with thy sister
thou hadst such a son (i.e. Freyr)
hardly worse than thyself."

Týr:
"Freyr is best
of all the exalted gods
in the Æsir's courts:
no maid he makes to weep,
no wife of man,
and from bonds looses all."
Not only mocking Týr's wound (his arm was bitten by Fenrir), Loki also called him a cuckold.

Loki:
"Be silent, Týr;
to thy wife it happened
to have a son by me.
Nor rag nor penny ever
hadst thou, poor wretch!
for this injury."

Freyr:
"I the wolf see lying (The wolf: Loki is father of Fenrir)
at the river's mouth,
until the powers are swept away.
So shalt thou be bound,
if thou art not silent,
thou framer of evil."

Loki:
"With gold thou boughtest
Gýmir's daughter, (i.e. Freyr's wife, Gerd)
and so gavest away thy sword:
but when Muspell's sons (i.e. Fire Giants, whose leader would slay the unarmed Freyr art Ragnarök)
through the dark forest ride,
thou, unhappy, wilt not
have wherewith to fight."

Heimdallr:
"Loki, thou art drunk,
and hast lost thy wits.
Why dost thou not leave off, Loki?
But drunkenness
so rules every man,
that he knows not of his garrulity."

Loki:
"Be silent, Heimdallr!
For thee in early days
was that hateful life decreed:
with a wet back
thou must ever be,
and keep watch as guardian of the gods."

Skaði:
"Thou art merry, Loki!
Not long wilt thou
frisk with an unbound tail;
for thee, on a rock's point,
with the entrails of thy ice-cold son,
the gods will bind."

Loki:
"Milder was thou of speech
to Laufey's son, (Laufey´s son: the giant Loki)
when to thy bed thou didst invite me.
Such matters must be mentioned,
if we accurately must
recount our vices."

Sif went to pour for Loki.

Sif:
"Hail to thee, Loki!
and this cool cup receive,
full of old mead:
at least me alone,
among the blameless Æsir race,
leave stainless."

Loki:
"So alone shouldst thou be,
hadst thou strict and prudent been
towards thy mate;
but one I know,
and, I think, know him well,
a favoured rival of Hlorridi,
and that is the wily Loki."

After this, Thor came in and drove Loki away.

Thor:
"Silence, thou impure being!
My mighty hammer, Mjöllnir,
shall stop thy prating.
I will thy head
from thy neck strike;
then will thy life be ended."

if you're wondering what the fuck just happened loki wasn't invited to a party, came in any way, got drunk, and started making an ass of himself until thor came in and thretened to smack him upside the head with his hammer.

also, be silent= shut the fuck up.