Is security more important than privacy?

This video: https://www.youtube.com/watch?v=3WRlaXbYpH8

White guy tries to explain how he feels about the UK's surveillance society.

Let's discuss this subject properly.

I'll start:
Privacy is more important. A pretext for mass invasion of privacy which only harmed thousands of people in the last decade isn't sufficient. Yes, I'm talking about terrorism.

>Boston Bombings: 3 dead. Whole of Boston under lock down. Nobody can leave home. People don't even feel safe in their OWN HOME. (Picture where a guy in a light tank was pointing his rifle at the cameraman).

>7/7/05 bombings: 51~ dead. Shit ton of CCTV installed, police powers DRASTICALLY improved, less transparency in govt, more fear and tax payer money wasted on keeping the fear, internet monitoring and soon all communications.

>9/11: Almost 3k dead. Patriot Act. (Plus more obviously but that was the main one).

Feel free to continue

If we're speaking as people who are all in agreement that totalitarianism is wrong and democracy is something for which to strive, framing the question as "privacy vs. security: which is more important?" is like saying "steering wheel vs brakes: which is more important?"