Since they had the power to help the elf community at the Falas thrive, I always thought they must have power similar to the three elven rings. There seem to be similarities between the refuge of the Falas and those of Rivendell and Lórien, in that they were the last great strongholds of things elfy in Middle-Earth.
After all, they were created from the Two Trees, and kept the memory of their light. They had the power of Nostalgia.
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But Gwindor answered: 'The doom lies in yourself, not in your name'.
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