Seriously, Dwarfs are clearly a Fusion of Hebrevs (rather than "Jews"!) and Vikings (a Blood Memory, perhaps, of this Alienist which Ironically Authored in the Aryanist Tradition), and Elves are... well... Elves. They're Icelandic. Hobbits? They Live like Nordic People did for thousands of years. Gandalf? He's either Myrddin Emyrs a.k.a. Merlin (Created by Geoffrey of Monmouth; though Based upon Myrddin Wyllt, a Mad Prophet of Northumbria) or Odin/Wotan/Wōdanaz.
Saruman The White, having grown Corrupt and Betrayed all he was Renowned for, should have been a Dead Giveaway; even if you're Completely Unaware of the Medieval Legend of The Seal of Solomon a.k.a. Solomon's Ring. How about the Caves full of Gold of the Dwarf King? King Solomon's Mines ring a bell? Just as Sauron was Feared by Saruman, The Wise Wizard, Jews (Edomites) were Feared by Solomon, The Wise (Isra'el'ite) King; this Fear turned to Loyalty, and his Protégé (as with Gandalf, so with His Isra'el'ites) had to Reject it.
There are also Black and Arabic Hordes that must be Defeated, as a Reference to The Moorish and Turkish Invasions.
The Ents, the Anthropomorphic Trees, are his Version of something Present in many European Cultures.
Mordor was his Allegory for Early Industrial London, before Increased Technological Advancements, Industrial and Residential Zoning, Child Labour Laws and those on Health, Safety, Wages, Hours and other things now Widely Regarded in The First World as Basic Human Rights would Improve Conditions. Of course, Unions and Lawmakers have both now Run Rampant with these Concepts and become Destructive Forces of Their Own.
I'm sure if you looked closer, you could find more Examples and the Precise ones to match up with different Influences, but you get the picture.
Of course, as Alluded to above, either Tolkien was not (Consciously, anyway) Aware of the Differences between Hebrevs and Jews or would not more than Tacitly Confess it; it is, however, apparent that a Sub-Conscious Realization was made, as his Isra'el'ite-Inspired Characters Behave as such - rather than Jews!
Of course, he would have been Censored in England if he did not; it was Exceedingly Rare for an Englishman, Regardless of his Racialism in Peacetime, to Contradict The Regime in his Day.
Today, many Aspects of his Stories are Censored from Films and to make Abridged Versions. My Favourite of those is his Refutation of Anarchism and Libertarianism; though he Affirms Private Ownership Rights and other Individual Pursuits, much to the Dismay of Communists, he also Affirms that those Willing to Unite on Political, Religious, Cultural and/or Racial Grounds can Crush these Hyper-Individualists.
It seems Liberals like Peter Jackson and Guillermo del Toro (not Related to Mestizoid Actor Benicio Del Toro) do not Understand that White Culture will not Endure if Whites are Extinct; some look at Dumas and Pushkin as what They Mis-Conceive as Proof that it will - but They only got were They did at the Charity of Whites!
They should have not Existed, being Hybrids, and would not have Penned what They did if it were not for White Generosity (Dumas by The French Aristocracy, Pushkin by Russian Royalty) in Providing for Them a Superior Education than what White Peasantry could Expect! In Fact, rather than Reminding People that it was said White People and Cultures that Afforded Them such Opportunities - Liberals and Jewish Publishers tell Us all about that Usurper called "The Black Count", and "The Blackmoore of Peter The Great"!
Furthermore, the former was a Liberal and the latter a Bolshevik; even if Literary Quality were Present, many Aspects of Our Culture were still Lost On Them.
Look at how many Alien Nations have Slaughtered Themselves and each other to Return The White Gods - actually Bastardized, Murdered or Driven into Exile by Their Marauding Hordes! Even now, the so-called History Chanel tells Us all about "Ancient Aliens" - which Invariably turn out to be Lost White Civilizations!