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In this video:
The “Ye” here is not the “ye” as in “Judge not, that ye (you) be not judged”, but is rather a remnant of the letter “thorn” or “þorn” (Þ, þ). The letter thorn was used in Old Norse, Old English-Middle English, Gothic, and Icelandic alphabets and is pronounced more or less like the digraph “th”. As such, this letter gradually died out in most areas (all but Iceland), being replaced by “th”.
Want the text version?: http://www.todayifoundout.com/index.php/2012/11/ye-in-names-like-ye-olde-coffee-shoppe-should-be-pronounced-the-not-yee/
Sources:
http://oald8.oxfordlearnersdictionaries.com/dictionary/ye-olde
http://www.youtube.com/watch?v=PVVTk7yy4kU
http://en.wikipedia.org/wiki/Thorn_%28letter%29
http://linguistlist.org/issues/7/7-1473.html
http://www.takeourword.com/TOW142/page1.html
http://www.thefreedictionary.com/ye
http://grammar.quickanddirtytips.com/how-to-pronounce-the.aspx
http://en.wikipedia.org/wiki/Thou
http://en.wikipedia.org/wiki/File:Seattle_-_Curiosity_Shop_03.jpg
Image Credit:
https://www.bigstockphoto.com/ru/image-126807485/stock-photo-edinburgh-scotland-march-12th-2016%3A-ye-olde-christmas-shoppe-situated-on-canongate-in-edinburgh-on-12t
