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The following quotation by author Norman Mailer in his 1991 book I, Spy : Harlot's Ghost, a fictional novel that ruminates on the history of the CIA, focuses on the real issue of ufology.
"It is painful to relinquish one's hope for a narrative, to admit that study of the CIA [UFOs] may not lead to the exposure of facts so much as to the epistemology of facts. We will not get the goods so quickly as we will learn how to construct a model which will tell us why we cannot get the goods."
Definition of Epistemology – the theory of knowledge, especially with regard to its methods, validity, and scope. Epistemology is the investigation of what distinguishes justified belief from opinion.
Construction of such a model necessarily involves conspiracy theory. Don't shy away from it, dive in!
The model will be essentially scientific. It explains whatever evidence is available, even the hoaxes and disinformation.