The novel alternates between episodes featuring Benny, Stencil and other members of the Whole Sick Crew (including Profane's sidekick Pig Bodine) in 1956 (with a few minor flashbacks), and a generation-spanning plot that comprises Stencil's attempts to unravel the clues he believes will lead him to "V." (or to the various incarnations thereof). Each of these "Stencilised" chapters is set at a different moment of historical crisis; the framing narrative involving Stencil, "V.", and the journals of Stencil's British spy/diplomat father threads the sequences together. The novel's two storylines increasingly converge in the last chapters (the intersecting lines forming a V-shape, as it were), as Stencil hires Benny to travel with him to Malta.
