Restream a Videostream

[Mos]

Good Evening,

I want to "restream" a videostream. For example this one:

http://www.tv-kino.net/stream/live/de/ard-hd.html

It's easy to sniff the Stream and save it on my HDD with rtmpdump.
But can't i use the stream and simply redirect it via my Server to another person?
On this way i could delete country restrictions and allow my friend to view the stream even if he doesnt live in the country, where the stream should only be viewable.
I would like to use red5 to create the stream or broadcast it and basically any flash Player (I'm not sure which on atm) to embedd it in a website and run it.