In my humble opinion I believe that the Ringwraiths actually posses the rings while Sauron holds the rings and their owners in his power. The rings that were givin to the men turned them into the wraiths that they are now. Biblo talked about how he felt thin and strched out. This is because the ring is slowly starting to affect him. Also when Frodo uses the ring at Amon Sul he enters the wraiths world when he becomes invisible. Now, the nine rings are of course different from the One but still it shows a connenction. Now Hobbits have an unusual resistancec to the rings and displayed by Biblbo, but Humans are perfectly suseptible to there power. Once given to them by Sauron they slowly slipped out of this world growing thinner and ghostlike till they became the wraiths. They still hold the nine, they can never tale them off in my opinion.
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For the valour of the Edain the Elves shall ever remember as the ages lengthen, marvelling that they gave life so freely of which thay had on earth so little. But it is not for thy valour only that I send thee, but to bring into the world a hope beyond thy sight, and a light that shall pierce the darkness." Ulmo - Lord of waters
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