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In the 19th century, Peter Munk lives a poor life as a coal burner in the Black Forest. Envying his wealthier neighbors, he locates a forest spirit – the Glass man – and asks him to fulfill three wishes. The Glass man agrees but he insists that the wishes are not allowed to be stupid. Peter purchases a glassworks plant to better his business and he wants to become the best dancer of the village to impress the people. The Glass man is not quite happy with those choices but nevertheless the wishes get real. But Peter is absolutely no business man and soon he is in bad financial trouble. In utter desperation, Peter locates another wizard – the gigantic Dutch Michel. That dark spirit has no problem to help with lots of money. But the Dutch Michel sets a very spooky condition: Peter has to give his warm heart to him in exchange for a cold stone. Peter agrees. But with the stone in place of his heart, he feels no emotion at all. So he becomes a ruthlessly successful businessman. And he must pay the price: In a rage of fury he kills his beautiful wife Lisbeth, when she showed mercy to some poor beggars. After this tragedy Peters last chance seems to return to the Glass man to ask for a last support.