Kurzgesagt just so happened to have produced a video on this matter:

The point is clear - sure, "If you have nothing to hide, you have nothing to fear" may hold true today, but for how long? That is far too optimistic a belief to hold that the higher powers are always working in your interests, and privacy is a fall-back when something malicious tries to overstep its boundaries in the name of "security".

Quote from: Josh55886 on April 14, 2016, 07:18:12 PM

Privacy. The phrase you have nothing to fear if you have nothing to hide kinda annoys me. Our government can protect us from other countries with the military. Everything else is left up to states. We have police. I don't think the NSA should be tracking and listening to all phone calls. It's wrong. So privacy all the way. It stretches much further too. Such as why is the government worried if you're doing drugs, or growing them? Anything like that is your own private matter. Let people do what they will, even if it means screwing over their own lives.

Listening in to calls and whatnot is more for anti terrorism.

Which is what has been said already. Are you willing to give up that privacy so government can protect you from terrorists?