Dr. Robert Judy, director of the Alexander Hamilton Foundation, authorizes Arturo Eno to print two billion dollars of counterfeit money outside the knowledge of the US Treasury Department. Arturo blackmails Dr. Judy. The sly Dr. Judy pulls a few strings from an admiral by inventing a cheating scheme at the US Naval Academy. Ensign Nick McMasters, a recent graduate, is randomly selected. Nick is hidden inside the foundation. Dr. Judy persuades him to go undercover and find Arturo Eno. For the mission to work, Nick has to engage two retired spies and employ their expertise. The undercover operation lands Nick inside a counterfeiting ring where he acts like a chameleon to survive. Arturo is spooked and decides to move the money.

We follow Nick to the counterfeiting lair where he learns the fine art of printing money. The money is loaded on to a waiting freighter. The next day at sea, they discover a submarine is hunting them. Damage done by the ramming of the submarine, the freighter beaches next to a posh resort in Mexico. The money is retrieved; however, Nick continues his search for the men. A knife thrown by Arturo at the wharf nearly kills Nick. Nick recovers to learn the counterfeiting operation was sanctioned by Dr. Judy to bribe the terrorists from their random bombings in the US.