No, no, no. Tolkien specifically rejected allegory. He was writing myth about the prehistory of the world. There is not a modern day comparison to the one ring -- save Power (of goverments).
"Of course my story is not an allegory of Atomic power, but of Power (exerted for domination)"
--J. R. R. Tolkien
_The Letters of J.R.R. Tolkien_ p. 246 (1995)"I am not a 'democrat' only because 'humility' and equality are spiritual principles corrupted by the attempt to mechanize and formalize them, with the result that we get not universal smallness and humility, but universal greatness and pride, till some Orc gets hold of a ring of power--and then we get and are getting slavery"
--ibid.
Click here for more on Tolkien's political opinions.
Did you not read the part of my post saying that the Lord of the Rings was not based on World War 2? I was making a sarcastic response to person who suggested that the victorious allies actions during and after the war were not good.