This card represents creative energy in its most material form; in the Zodiac, Capricornus occupies the Zenith. It is the most exalted of the signs; it is the goat leaping with lust upon the summits of earth. The sign is ruled by Saturn, who makes for selfhood and perpetuity. In this sign, Mars is exalted, showing in its best form the fiery, material energy of creation. The card represents Pan Pangenetor, the All-Begetter. It is the Tree of Life as seen against a background of the exquisitely tenuous, complex, and fantastic forms of madness, the divine madness of spring, already foreseen in the meditative madness of winter; for the Sun turns northwards on entering this sign. The roots of the Tree are made transparent, in order to show the innumerable leapings of the sap; before it stands the Himalayan goat, with an eye in the centre of his forehead, representing the god Pan upon the highest and most secret mountains of the earth. His creative energy is veiled in the symbol of the Wand of the Chief Adept, crowned with the winged globe and the twin serpents of Horus and Osiris.
via The Devil.