Many languages today contain a form of formal address as well as a casual/informal form of address. Modern English, however, does not. But it was not always so. In fact, in the Middle Ages, addressing a nobleman with the familiar “thou”, rather than the respectful “thee”, could be interpreted as a killing-insult. Speaking of “thee” did you know that the “th” sound in Old English was often represented with a “y”? So when you see “Ye Olde Pub”, you would actually pronounce it “The Old Pub”?
– A few thoughts from your friend Saxo