I don't want to throw cold water on anyone's theory, but I think (only my idea mind you) that the reason the GB is given to wearing the rings is that 1. They are insecure and it makes them feel like they have more clout and presence when they are adorned with gold 2. They secretly wish that they were wearing University rings that would make them more credible as leaders of a multi-billion dollar religious/business corporation.
These men are both arrogant AND insecure at the same time. They envy the degree'd Bethelites they have doing their legal work and other licensed activity that requires a degree from a university or college. To me, this is the saddest part of all. I have never thought that they were masons or part of a secret order. They are just unlettered, ordinary men who want to be lettered and extraordinary.