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I always thought of their mention as real. When the Dwarves, Gandalf and Bilbo are on the mountain path in the storm, Thorin indeed mentions that he doesn't want to be picked up by a giant and kicked like a football. But few sentences before Bilbo takes a peek out of their shelter and sees the giants throwing stones, and they all hear them laughing*.
But I don't believe they were on Caradhras (as I said before).
*If some of you read On Fairy-stories, it might also be of some concern what Tolkien says about Thor...
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"Should the story say 'he ate bread,' the dramatic producer can only show 'a piece of bread' according to his taste or fancy, but the hearer of the story will think of bread in general and picture it in some form of his own." -On Fairy-Stories
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