His Strength Returns
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Elrond: His strength returns.
Gandalf: That wound will never fully heal. He will carry it the rest of his life.
Elrond: And yet to have come so far still bearing the Ring, the Hobbit has shown extraordinary resilience to its evil.
Gandalf: It is a burden he should never have had to bear. We can ask no more of Frodo.
Elrond: Gandalf, the enemy is moving. Sauron's forces are massing in the East. His Eye is fixed on Rivendell. And Saruman, you tell me, has betrayed us. Our list of allies grows thin.
Gandalf: His treachery runs deeper than you know. By foul craft, Saruman has crossed Orcs with Goblin-men. He's breeding an army in the caverns of Isengard. An army that can move in sunlight and cover great distance at speed. Saruman is coming for the Ring.
Elrond: This evil cannot be concealed by the power of the Elves. We do not have the strength to fight both Mordor and Isengard. Gandalf. The Ring cannot stay here. This peril belongs to all Middle-earth. They must decide now how to end it. The time of the Elves is over. My people are leaving these shores. Who will you look to when we've gone? The Dwarves? They hide in their mountains, seeking riches. They care nothing for the troubles of others.
Gandalf: It is in Men that we must place our hope.
Elrond: Men. Men are weak. The race of Men is failing. The blood of N?menor is all but spent, its pride and dignity forgotten. It is because of Men the Ring survives. I was there, Gandalf. I was there 3000 years ago... When Isildur took the Ring. I was there the day the strength of Men failed. Isildur, hurry! Follow me. I led Isildur into the heart of Mount Doom, where the Ring was forged, the one place it could be destroyed. Cast it into the fire! Destroy it!
Isildur: No.
Elrond: Isildur! It should have ended that day, but evil was allowed to endure. Isildur kept the Ring. The line of kings is broken. There's no strength left in the world of Men. They're scattered, divided, leaderless.
Gandalf: There is one who could unite them. One who could reclaim the throne of Gondor.
Elrond: He turned from that path a long time ago. He has chosen exile.

Elrond and Gandalf discuss the future of the ring, it's history and it's present barer. During their talk the scene switches to a flashback of Elrond and Isildur when Isildur captured the ring but refused to destroy it. The scene returns to the present.