Long ago, in the early years of the Second Age, the great Elven-smiths forged rings of...

Gandalf: Long ago, in the early years of the Second Age, the great Elven-smiths forged rings of power. Nine for mortal men, seven for the Dwarf lords, three for the tall Elf Kings. But then, the dark lord learned the craft of ring making and made the Master Ring, the one ring to rule them all. With the One Ring, Middle-Earth was his, and he could not be overcome. As the last alliance of men and Elves fell beneath his power, he did not notice the heroic shadow who slipped in. It was Prince Isildur, of the mighty kings from across the sea, who took the ring. But because he did not destroy it, the spirit of the dark lord lived on, and began to take shape and grow again. But the ring had a will of its own, and a way of slipping from one hand to be found by another, so that it might at last get back to its master. And there, the ring lay at the bottom of the great river Anduin for thousands of years. During those years, the dark lord captured the nine rings that were made for men and turned their owners into the Ringwraiths. Terrible shadows, under his great Shadow, who roamed the world... searching for the One Ring. In time, the Ring was found. Two friends were fishing in the great river one day.

It's not even warm. No. Not even a dragon's fire could harm that Ring. ''One Ring to rule them all ''One Ring to find them ''One Ring to bring them all and in the darkness bind them.'' I wish it need not have happened in my time. So do I. The Enemy still lacks one thing to give him strength of knowledge... ...to break all resistance, and cover all the lands in darkness. He lacks the One Ring. Maybe he doesn't know that it was found. He knows, Frodo. Gollum left his cave to follow the Ring himself... ...and the Dark Lord caught him in Mordor. The Dark Lord knows what ring it was Gollum found, and how he lost it again. And he has heard of Hobbits at last, and of the Shire. And he even has a name to think about... ...the name of Baggins. Because of Gollum ! Oh, Gandalf, what am I to do? What a pity that Bilbo didn't kill that vile creature when he had the chance! Yes, it was pity. Pity and mercy. And now, Frodo, the decision lies with you. What will you do with the One Ring? I'll give it to you, Gandalf! You're wise and powerful. Well, will you not-- No! Do not tempt me! I would wish to turn it to good, and it cannot be used so. Meaning to be kind, I would become as terrible as the Dark Lord himself. Do not tempt me! I shall have such need of strength so soon. Then I suppose I must keep the Ring and guard it. I ought to go away somewhere, alone. But they won't bother the Shire if the Ring isn't here. My dear Frodo... ...I am afraid you are right. You'll have to go and leave the name of Baggins behind you. That name is no longer safe. Your new traveling name shall be: Mr. Underhill. What have you heard, and why did you listen? Mr. Frodo, sir, don't let him hurt me, sir! Don't let him turn me into anything unnatural. Well? Answer him, Sam. Well, I heard a deal that I didn't rightly understand... ...about an enemy and rings, and about Elves, sir. Why, I would dearly love to see Elves, Mr. Frodo. And so you shall, Sam. So you shall. lndeed, you should go to the Elves first, to Rivendell. Tell everyone you are moving away... ...to live in Buckleberry, with those cousins of yours, Pippin and Merry. However you manage it, do it soon, by your birthday at the latest. I should be back by then. I must go south, to consult with the Wizard Saruman...