A very good theory, I think. When the ring was in Moria it could have aroused the Balrog, then the ring goes to Erebor and very well could have aroused Smaug to their location.
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*~*Call me a relic, call me what you will.
Say I'm old fashioned , say I'm over the hill.
That old whine ain't got no soul.
I'll stick to Old Toby and a Hobbit hole.*~*
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