What really caused conflicts and damage are the situations the "lies" cannot be falsified (just in current population due the the limit of intelligence, no necessary for smart people in future generations), and the yeller is not a typical liar but belong to a special specie (majority of politicians who have good skill in elections) that totally believe their lies so there's no legal ground base to charge them. There have been already a lot of damaging consequences and seems continue to have more because of this.
Do we have reverse yellers yelling "NO FIRE" to balance the ongoing damages? The are very few for some important issues. There's no way to counter balance.
Why? It's not because there are less people know the truth. In real world it's not a clear cut model that information can be passed back and forth independently between a yeller and audience. The misinformation exists because there are eager misinformation consumers. There are a very large portion of people need the yelling of "FIRE" and hence there are more "FIRE" yellers. This is another discrepancy between your model and real world.