The story goes that in 1954, President Eisenhower said he was going to go enjoy a vacation, got onto his plane and took off, but where he went was a huge coverup. He was missing for a night and the press was told he had a dental emergency. It was revealed by insiders he went to Edwards Air Force Base and met with aliens for the first time. This was supposedly the "Nordic" appearing race and they were unable to make an agreement for technology information if we shelved our nuclear aspirations. Supposedly, the president and FBI officials communicated telephatically with the aliens.
Later that year, a meeting at Holloman Air Force Base in Alamogordo, New Mexico involved large-nosed greys. They identified themselves as coming from a red star in the Orion constellation, a dying planet. An agreement was eventually signed with the alien grays. This treaty supposedly stated we would stay out of each others business, that the greys would not make a contract with another nation on Earth, they would abduct humans on when necessary and return them with no memories and a list of these abductees would be furnished to the government.
A year later, it was believed that the greys had already broken their contract and not furnished the identities of those who had been abducted and some abductees were never returned. It appeared that we had been duped.
This legend might be a very enticing one because many truly believe the government is not only aware of alien presence, but tolerant of it. This would explain it, should a contract of sorts been agreed upon. Why, however, would we sign a contract with an alien race and what was in it for the both of us? Human sperm and eggs and perhaps some cattle to mutilate in exchange for technology? Would their interests be biologic ones and ours technologic? This might actually make sense if you consider that their excessive focus on technology that got them here would likely be at the price of their biological forms. If a race of aliens were focused on getting off their planet in search of resources to live, advancing technology would mean even more sedentary lives and frail bodies from a dying planet, and they might need a DNA boost.
So, if humans were a stem cell banquet for a weak race that is nomadic by spaceship, then this kind of agreement makes sense. The government turns a blind eye on them procuring what they need and we go from room-sized computers to ones that fit in our pockets and laser technology and more high tech overnight creations that change our world. So, what the citizens don't know won't hurt them and it might just benefit their quality of life. Win/win, right?
Then, if the plan went south and the greys didn't adhere to giving us more awesome technologies and accounting for the humans they abduct, then the government would be forced even more to not pursue the saucers in the air and show any initiative in believing they exist. They made a huge error in thinking they could bargain with beings who were much further along technological evolution than us. The anger in the citizens should it get out that they agreed to allow us to be abducted, would cause an uprising. Feigning ignorance is the stand they would take, and apparently so.
Still, another consideration is the one of DNA experimentation. Could hybridizing humans and aliens be an effort to master their physical forms to be ideal for this planet? Might they just be adjusting their physical makeup, like we genetically alter crops to be hardier against pests and looking at our bacteria and viruses within our bodies to look for ways to resist them like we strive to have drought resistance in our crops? Was our government so naive as to allow them to experiment with humans in the eventuality that they would oust us from the planet and inhabit it with their hybrid forms that include their level of intelligence with our physically robust forms?
This story might live forever as long as it fulfills its purpose which is to explain why our government does not pursue UFO sightings or divulge information on the subject and why since the 1950s, our technology has grown leaps and bounds. It seems to neatly fit a lot of odd goings on into a highly feasible explanation.
Interested in the details? This is a fantastic article about it.