The master ring had never touched any of the:
"Three Rings for the Elven-kings under the sky"
for they had been hidden away from its Master's sight. To quote:
"On the creation of the One Ring, the Smiths of Eregion heard in their minds Sauron's voice reciting the two-verse spell; then they realized Sauron's plans and removed the Rings from their fingers"
Nor did he win the loyalty of the Seven, as none of the dwarf lords would submit to him. Four dwarf rings were destroyed by dragons, the other three claimed by Sauron, but no dwarf would wear one for him. Gandalf was searching for the last one in dwarf hands when he encountered an imprisoned dwarf king and came away with the map of the Lonely Mountain - which kick started Bilblo's quest. The slaying of Smaug made a huge difference in the ending of the Third Age - because Sauron planned to drive Smaug...
Sorry about that.
Spanking in Middle Earth? They would have been as common in the Shire as in English villages circa 1900. Mostly for the younger hobbits, and delivered by any authority figure who decided to give one.
And yes, I can picture Galadriel spanking the Hobbits.
And I can picture Tom Bombadil spanking Goldberry, either when she is naughty (she does enjoy being mischievous) or for fun, based on the age difference.
Hmm, that has me thinking. Tom Bombadil predates the elves - which means he's old enough to spank Galadriel if he wanted to... As for relative power levels between the two, when he slipped on The Ring it had no effect on him, so if the one the elves called "oldest and fatherless" ever thought Galadriel needed a spanking then she would get one.
And I can also see Goldberry spanking the Hobbits, just for fun.
While there is no spanking in it, people might enjoy this link to a Harvard Lampoon classic
http://solargeneral.org/wp-content/uploads/library/bored-of-the-rings-henry-n-beard-d ouglas-c-kenney.pdfand might recognise the name of a character in that book.
As for spanking hobbits, if you're into that you might check out my S&S Story - which uses the generic term Halfling in place of Hobbit.
Will we see that actress spanked in that movie? We might. That's more likely than seeing a redo of The Lucy Show - Season 4, Episode 23, where Lucy spanked the actor who used to play Dennis The Menace. I can see a modern movie showing how they played spanking Lucy for laughs, then when the filming stops having Lucy make a comment on it.