Born in 1919, Bismaquer was born to German and English-American parents. He made his first million before he was twenty, and quickly became a multimillionaire within three years. During World War II, Bismaquer avoided military service because he was classified as "undesirable", and shortly became a member of the American Nazi Party. In the early 1950s, he sold his business interests, and became a recluse on his ranch, Rancho Bismaquer. Because of suspicious tax dodges from the Internal Revenue System and bodies of FBI operatives being found in a Louisiana marsh, M recruits James Bond and Cedar Leiter when Bismaquer is suspected of being affiliated with the terrorist organization, SPECTRE. Because Bismaquer is an obsessive collector of rare prints, Bond and Leiter are disguised as Mr. and Mrs. Joseph Penbrunner with valuable Hogarth prints.
After Bond and Leiter escape an attack from Mike Mazzard, they travel down to Rancho Bismaquer in Amarillo, Texas. Using his real name, Bond displays the Hogarth prints to Bismaquer, in which he intends to purchase. However, Bond insists the prints are not for sale. Shortly after, Bismaquer guides Bond and Leiter on a tour of his ranch, and shows them to their cabin in Sand Creek where they are monitored. After inviting them to dinner, Bismaquer makes an another attempt to purchase the prints, but Bond tells them that the prints are for sale in a public auction in New York. With a relief, Bismaquer challenges Bond to a race against Walter Luxor for $1 million for the prints, and if he wins, he will pay him one million and another million "for your pains". But if he loses, Bond must pay him $1 million and give him the prints. Bond unhesitantly agrees. Bond shortly develops a romance with Bismaquer's wife, Nena, and comes to the conclusion that Bismaquer is the new head of SPECTRE.
Having survived two death attempts, Bond overhears a conservation between Bismaquer, Luxor, and two employees where they discuss a chemical added to the ice cream that makes a person completely submissive to orders. The next day, Luxor is defeated by Bond in a car race at the Grand Prix, and Bismaquer rewards Bond with $2 million back on his ranch. He invites Bond once more to dinner, and orders him to leave the morning of a conference. However, Bond decides to stay on the ranch where he hears of SPECTRE's "Operation Heavenly Wolf" to infiltrate the North American Aerospace Defense Command (NORAD) Headquarters in the Cheyenne Mountains in Colorado through feeding the workers the chemically filled ice cream. Having accomplished that, they will gain control of the Space Wolf satellites in orbit.
After a run-in with Bismaquer's men, Bond is hypnotized into becoming General James Banker, and transported to Colorado. Bismaquer however, who was attracted to Bond, sneaked into his room and gave him an antidote. Still in uniform as the general, Bond orders the troops to resist SPECTRE's men. After thwarting the attack, Nena arrives, and takes Bond to another ranch in a Louisiana swampland via helicopter. She then kills a bloodied Bismaquer, and reveals herself as the true head of SPECTRE.