There was a woman on Radio Farve Larve earlier this week explaining exactly where that phrase came from.
Is it just the kettle that's strange? So a standard Morphy Richards kettle full of fish is something that is normal.
'Spends money like a man with no arms'. That's one of my mother's. I challenge anyone to make any sense of it when you consider it refers to a person who can't stop spending money. I think she's got confused but she's being saying it since I can remember.