The King said: My son, please forgive me, but that is what we all believed at the time, because that is the way the Bishops Bible taught it, but now I know better.
Not to make an excuse, but there truly was an Old Covenant and a New Covenant made with God, but we did not understand the difference between the two in 1611. Nonetheless, the old and the new covenant is so simple that the simplest of men could understand them if they were to read the Scriptures thoroughly before they went to a church and were indoctrinated.
The first covenant made on Mt. Sinai was between God and the children of Israel; Moses acted as the mediator between these two parties, going up and down the mountain six times just for this one covenant. This was that covenant that contains the famous Ten Commandments; this covenant is an everlasting covenant.
The second covenant made on Mt. Sinai was between God and Aaron; Moses acted as the mediator here as well. This covenant between God and Aaron said that all the priests who would serve in the earthly temple must come from the tribe of Levy. This covenant was not everlasting, and it had to be annulled before Christ could become our New High Priest. The first century Christians surely talked about this as the Old Covenant between God and Aaron and a New Covenant between God and Christ but when the Gentles took over the church they did not understand the two and therefore, twisted the scriptures into what we have today.
The essence of this covenant is this. Jesus the son covenants with the Father to die on the cross and ascend into Hell for the sins of all humanity. The Father agrees to raise the Son up from among the dead and make him the New High Priest forever after the order of Melchisedec.
You might be thinking right about now, where does the Bible say that? Really, it is all through the Bible from Genesis to revelation. The Book of Hebrews covers this very well, comparing the Levitical priesthood with the new heavenly priesthood of Christ. Read also Jeremiah 31:31-36, Psalms 110:4, and Psalms 2:7. However, keep in mind that angels, for the most part, refer to the old priests, and things refer to men.
Study the Hebrew and Greek text as well. Jeremiah says there will come a day that God will put a new covenant in our hearts and mind, did he mean a New Mediator? For it is written in the New Testament, that God has put Christ in us, which is the hope of glory (col. 1:27).