This article offers a novel interpretation of Jacques Derrida’s deconstructive thought in terms of model theory. Taking its cue from Paul Livingston’s Politics of Logic, which interprets Derrida as a thinker of inconsistent totalities, the article argues that Livingston’s description of Derrida is unable to accommodate certain consistency-driven aspects of Derrida’s work. These aspects pertain to Derrida’s notion of ”iterability”. The article demonstrates that the context-bound nature of iteration – the altering repetition of any discrete unit of meaning – and Derrida’s possibilist view of context – that a context need not be part of the actual world to merit consideration – lead to the possibility of articulating iteration with the model-t...