This paper presents a discussion of the previously unpublished correspondence between Stekel and Freud. The authors start with a brief overview of most important historic events and facts that constitute the context against which these letters should be read. The matters cover questions of publishing policy, personal priorities, and psychoanalytic principles. The authors suggest that the Stekel letters may have been preserved by Freud as evidence of the latter's estrangement from him, as tokens of betrayal. A minute discussion of the correspondence makes it possible to discuss day-to-day developments in this fateful relation, taking into account Stekel's side of the story for the first time as well, highlighting the backfiring of a strategic maneuver by Stekel to psychoanalyse the Freud family, which heralded his downfall, and also revealing the role that Victor Tausk played in this. The paper concludes with a discussion of the dialectics of estrangement.