There's nothing "fishy" about it. ;)
The set of Turing-complete languages which are type-safe with respect to any nontrivial [1] type system T is a strict subset of the Turing-complete languages. As such, in the general case, no translator P-1 from B to A exists; therefore, neither does any translator-cum-type-checker LP-1.
A knee-jerk reaction to this sort of claim might be: Nonsense! Both A and B are Turing-complete, so I can express any computable function in either language! And, indeed, this is correct--you can express any computable function in either language; however, quite often, you can also express quite a bit more. In particular you can construct expressions whose denotational semantics are not well-defined, such as those which might happily try to take the arithmetic sum of the character strings "foo" and "bar" (this is the gist of Chubsdad Alex Martelli's answer). These sorts of expressions may be "in" the language B, but may simply not be expressible in the language A, because the denotational semantics are undefined, thus there is no sensible way to translate them.
This is one of the great strengths of static typing: If your type system is unable to prove, at compile time, that the aforementioned function will receive any parameters but those for which the outcome of the arithmetic addition operator is well-defined, it can be rejected as ill-typed.
Note that while the above is the usual sort of example given to explain the merits of a static type system, it is perhaps too modest. In general, a static type system need not be limited to merely enforcing type-correctness of parameters, but indeed can express any desired property of a program which can be proven at compile time. For example, it is possible to construct type systems which enforce the constraint that one release a filesystem handle (e.g. to a database, file, network socket, etc.) within the same scope in which it was acquired. Obviously, this is tremendously valuable in such domains as life-support systems, among others, where provable correctness of as many parameters of the system as possible is absolutely essential. If you satisfy the static type system, you can get these sorts of proofs for free.
[1] By nontrivial, I mean such that not all possible expressions are well-typed.