Earlier research work on the dynamics of the brain, disclosing the existence of crucial events, is revisited for the purpose of making the action of crucial events, responsible for the 1/f −noise in the brain, compatible with the wave-like nature of the brain processes. We review the relevant neurophysiological literature to make clear that crucial events are generated by criticality. We also show that although criticality generates a strong deviation from the regular wave-like behavior, under the form of Rapid Transition Processes, the brain dynamics also host crucial events in regions of nearly coherent oscillations, thereby making many crucial events virtually invisible. Furthermore, the anomalous scaling generated by the crucial events can be established with high accuracy by means of direct analysis of raw data, suggested by a theoretical perspective not requiring the crucial events to yield a visible physical effect. The latter follows from the fact that periodicity, waves and crucial events are the consequences of a spontaneous process of self-organization. We obtain three main results: (a) the important role of crucial events is confirmed and established with greater accuracy than previously; (b) we demonstrate the theoretical tools necessary to understand the joint action of crucial events and periodicity; (c) we argue that the results of this paper can be used to shed light on the nature of this important process of self-organization, thereby contributing to the understanding of cognition.