In Chapter 16 of The Hobbit, little Bilbo takes matters (and the Arkenstone) into his own hands and makes a deal with Bard and the Elvenking, who presumably don’t already have one, in an attempt to end the standoff peacefully. We consider just how short-sighted Thorin’s position really is, discuss how Bilbo totally owns the whole “honest burglar” thing, and finally welcome the return of one of Tolkien’s most beloved characters. Plus still more raven voices, and a question from Barliman’s Bag about Gandalf’s D&D character sheet that makes us reach for a lifeline.