So here I am talking like a pirate (From QE1's Golden Speech in 1601):
"There will never Queen sit in my seat with more zeal to my country, care to my subjects and that will sooner with willingness venture her life for your good and safety than myself. For it is my desire to live nor reign no longer than my life and reign shall be for your good. And though you have had, and may have, many princes more mighty and wise sitting in this seat, yet you never had nor shall have, any that will be more careful and loving....Aaaaarghhhh!"
"...it is also vital to understand how weak England was when the twenty-five-year-old Elizabeth became queen. Defense of the realm - and the queen - was the greatest worry on everyone's mind. Throughout her personal writing, the single-minded attention she gives to "security" is quite heartbreaking. And the central theme of security remains the golden thread woven through the intricate fabric of her reign - security for herself before she came to power, supplanted by security for the realm thereafter. In her mind, to create a secure realm, she needed two things: peace and money. When peace was gained at home through deft footwork by the queen and her advisors within the first year of Elizabeth's reign, the disappointed French (under the mother of Mary Queen of Scots), who had tried to invade England, found themselves ousted from Scotland. It was through Elizabeth's gentlemen adventurers that the attempt was foiled, and through her merchant adventurers that money was raised to protect the realm and pay for England's soldiers. In those days, plunder was how soldiers and mariners believed they were paid for the risks they took, and it remained common military policy until World War II, to turn a blind eye to the practice."
So... in case you were thinking that officially sanctioned piracy was anything new, you might want to think again. You might also want to check out Susan Ronald's book, if you are into either pirates or queens. It's an awesome read.