What power is Elrond referring to?

[Ainaserkewen]

Just as I was thinking Rumil.

Perhaps also some of the protective power came not only by the innocence and hardiness of Hobbits but also by their non-existence. Sauron didn't even know Hobbits existed until he caught Gollum. Also, I'd like to speculate that perhaps the "higher ups", Gandalf, Elrond, etc. might of had a hand in their secrecy. Hobbits represented the wholesomeness in Middle-Earth and Gandalf, if not other great lords, wanted to protect that. The Dunedain not only protected the Hobbits physically from intruders, but also in their actual hiding of them from the outside world. I'd like to suggest that the stories and fairy tales about Hobbits known in Rohan and other realms might have been encouraged on purpose.