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Freedom of spech is meant to safeguard truth. If I am privy to something bad and I can't tell anyone, then the truth is hindered. If I figure something out and can't share the information, that information will be lost with me. While it's obviously wrong to lie or mislead, it is (imo) more imporant to always have acces to and be able to share the truth. Yelling 'Fire' in a crowded building can actually lead to being charged with malicious mischeif, disturbing the peace, inciting a riot, and any injuries that result from the act.
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