On its page about the alleged acronymic origin of fuck, snopes had this to say:
In reply to:


Though
a few common English words have grown out of acronyms (words created by taking the first letter(s) of major words in a phrase), 'fuck' isn't one of them. With precious few exceptions, words of acronymic origin date from the 20th century and no earlier. It's almost guaranteed, therefore, any word from before the time of automobiles did not spring to life from a series of initials becoming so common folks began pronouncing it as its own word.
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Acronymic explanations catch our fancy due to the "hidden knowledge" factor. Most of us feel a bit of a glow when we think we're in possession of information others aren't privy to, and when a titillating or apt story is thrown in behind the trivia, these things just take off. "Tips" does not come from "To insure prompt service," yet that canard is widely believed. Likewise, "golf" didn't spring to life out of "Gentlemen only; ladies forbidden," and "posh" did not take its place in our vocabulary from a shortening of "Port out; starboard home."


If anybody knows of a good site that explores this issue well, I would add it to my list of links.