This recounts and recaps the origins of S.H.I.E.L.D. and Hydra, tying some of the events in "Sgt. Fury and His Howling Commandos," "Strange Tales, Vol. 1 #135-168," "Nick Fury, Agent of S.H.I.E.L.D." volumes 1 and 4, and "Nick Fury vs. S.H.I.E.L.D." This explains how and why S.H.I.E.L.D. and Hydra were created, how their respective leaders were chosen, and how some of the threats and machinations that Fury has dealt with over the years tie in together.