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Well the police do a lot more than just protect private property. I would be at the mercy of everyone who could pay for a bigger private security for than me

That's right. They also extort people for victimless, so-called crimes. They violate and damage persons and property, many times without cause or justification.

How would you be at the mercy of a private security company hired to protect the property and persons of those they're under contract with? I think you're misconstruing what private security means.