"No reason to get excited"
The thief he kindly spoke

from Bob Dylan – All Along The Watchtower Lyrics on Rap Genius


The thief is the voice of reason here. He tries to calm down the panicking joker. The fact that the thief is the kind and reasonable one reaffirms the idea that this song has a lot to do with perspectives; the world views all thieves as the lowest of the low, even though not all thieves are the same.

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