I more of a skeptic but this Discovery Channel Documentary is a bit more compelling than most UFO "evidence". Certainly a world apart, no pun intended
than the Billy Meier photos.
Investigation X - Ufo Outbreak
"A forensic investigation of the mass UFO sightings in Stephenville, Texas, Kokomo, Indiana, and Southwick, Massachusetts."
http://www.youtube.com/watch?v=k9vLaaJMtiA
Assuming the videos are authentic there are glaring questions of the what, who and how. If they are ET's then they are likely putting on a show. Any civilization that can transverse time and space from another solar system or galaxy can hid any activities if they so choose.
If the lights and sounds are of Earthy origin then that would mean the US military has technology far beyond what we imagined. That's even more unsettling that Alien visitation.
Even if the events are a trick, if you will by government using some hologram thingy to make one believe they are UFO"S then still there is obvious concern.
Much of the UFO's become identified as planets, weather and other atmospheric phenomena or outright fraud but a small percentage is difficult to explain.
There are other theories I've heard such as inner Earth, inter-dimensional and time travel. I think I've seen every video on the inner Earth as it is quite entertaining, even romantic in a way. But it's likely that all of these have no real basis in reality.
Anything is of course possible but if I were a betting man I would chose Occam's Razor and claim these sightings are the Globalists planning something nefarious.