The episode opens in a bank with Mulder shot and bleeding, while Scully tries to prevent his attacker from detonating a suicide-vest.
She fails, and they are all killed in the explosion.
And we come back from the opening titles to Mulder, waking up late after his waterbed burst and shorted out his alarm clock. He's late for a meeting, but more importantly he has to get his pay check to the bank so he can cover the check he had to write his landlord to cover the damages from the waterbed leak. A woman who claims to know Mulder tries to stop him going into the bank, but Mulder ignores her and heads in - straight into a hold-up and the opening repeats again. And again, as the woman tries again to prevent the tragedy.
* ContinuityNod: Mulder's waterbed, acquired by Morris Fletcher while he was in Mulder's body in "Dreamland". When queried, Mulder expresses bewilderment as to why he has a waterbed in the first place.
* ForWantOfANail: By managing to convince Mulder what's going on in the penultimate loop, Mulder ultimately decides to invoke a RippleEffectProofMemory before it restarts, which winds up being a major factor in the loop ending.
* TheGreatestStoryNeverTold: The loop ultimately ends when Pam, the looper, takes the bullet meant for Mulder. As such, he and Scully never really learn what's been going on.
* GroundhogDayLoop: They are trapped in the time loop, and only one person is aware of it. Mulder and Scully only experience brief moments of deja-vu.
** In an interesting variant on the trope, each loop is different in very subtle ways (''without'' Pam influencing it). For example, in the first loop we see, Mulder trips over his sneakers when trying to deal with his bed's leak. In the ''next'' loop, he takes notice of, and avoids them. He still winds up tripping over them though, but because he was walking backwards.
* HeroicSacrifice: How Pam ultimately breaks the loop: when Bernard tries shoot Mulder, she jumps in front of him.
* HeroOfAnotherStory: Inverted. Although Pam is the one who keeps looping, the episode primarily focuses on Mulder and Scully.
* HopeSpot: The penultimate loop: Pam talks Mulder out of going into the bank... but Scully still goes in looking for him. But, he shows up before Bernard can kill anyone, and shoots him. However, Bernard decides as his dying act to detonate the bomb anyway. This leads to Mulder deciding to invoke a RippleEffectProofMemory.
* JustEatGilligan: Viewers can undoubtedly think of lots of things Pam probably never tried. Obviously the situation never depressed her enough to attempt suicide, and she evidently never tried to go in the bank after Bernard left her in the car. Hell, why didn't she just call the police and tell them that her crazy boyfriend wants to blow up a bank?
** She did. She specifically mentions having tried calling the police and drugging his coffee, but [[YouCantFightFate he always ends up in the bank]] no matter what she tries. And Pam doesn't know her death is the solution, so would have no reason to kill herself.
** We're never given an explanation as to how Pam learned Scully and Mulder's names. Undoubtedly from an earlier loop, but still never explained.
** We're never told, despite how she is always at the house with Bernard before every robbery, how she managed to get away to take the tour of the FBI building to warn Scully.
* PoorCommunicationKills: Pam seems incapable of forming the words "that's my boyfriend robbing the bank, and he has a bomb". This doesn't kill anyone permanently, and she's understandably under a lot of stress, but even when she's talking to Mulder and he believes her, she won't just say it, which leads to another round of the loop.
* RippleEffectProofMemory: At the end of the penultimate loop, Mulder mutters "He's got a bomb." repeatedly as Bernard blows up the bank. As such, when he notices Bernard in the ''final'' loop, he subconsciously repeats it to himself and, acting on that hunch, calls Scully...
* TheTeaser: Mulder's already bleeding to death on the floor. The Bomb explodes.
* YouHaveToBelieveMe: What most of Pam's efforts consist of before the last cycle. She says she's tried more active ways to stop the events in the past, so she's probably just so beaten down by Fate at this point that this is all she has left in her to do.