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A ring passes between a lot of different people, giving the bearer or someone close a new meaning to life. Actors, embezzlers, old ladies and cheated husbands all seem to gain temporary hope from misery and disillusionment.
Celebrated elderly Austrian poet opposes nazism, while his daughter admires and falls in love with leading nazi activist, who eventually becomes concentration camp commander with his father-in-law as prisoner.
In England, a famous jewel collection is stolen. The police suspect that the jewels have been smuggled to Sweden, and in Stockholm, the young insurance detective Peter Holmer is commissioned to trace the stolen jewels. The tracks first lead Peter to a certain ballet master Lando, but when he comes to Lando's flat, he finds him murdered. Before the police were summoned, Peter saw a young lady smearing from the floor. He tries to catch her, but when he gets down the street she disappears in a taxi..
