CBS News on why the Jerusalem UFO is a hoax
The original Jerusalem UFO has now been definitely shown to be a hoax. Effects of the video processing software are clearly seen. The hoaxer used Motion Tile effects with edge mirroring to introduce camera shake into the video. You can see the mirroring effects along the edge of the video.
This proves that the video did not go directly from the camera to YouTube, that it made a stop in between inside a sophisticated video editing software suite. Once you start editing it like that, a skilled hoaxer can put practically anything in it.
Full story here.