In 1930s Italy, a carefree Jewish book keeper named Guido starts a fairy tale life by courting and marrying a lovely woman from a nearby city. Guido and his wife have a son and live happily together until the occupation of Italy by German forces. In an attempt to hold his family together and help his son survive the horrors of a Jewish Concentration Camp, Guido imagines that the Holocaust is a game and that the grand prize for winning is a tank.

When an American space capsule is swallowed up by what they believe to be a Russian spaceship, World War 3 nearly breaks out. The British Government, however, suspect that other powers are at work as the space craft went down near Japan. S.P.E.C.T.R.E. is the force behind the theft, as James Bond discovers, but its motives are far from clear, and he must first find out where the captured space capsule is held before America and Russia initiate another world war.