By The Way Lyrics
This I know for sure
Because I pay close attention
To your fairy tales
That without you
I can't do
And you wore through my weathered ears
And without you
I can't do it at all
I'm alive again
And your words mean nothing now
And I don't believe in you
Because I've finally figured out
Your world is ending

The girl thinks she can control the boy. Sovereignty is basicly power, and fairy tales, maybe she wishes she could control him, or have him "whipped" persay.
The second verse is basicly saying that she has him so locked, he's not allowed to do anything without her.
In the chorus, he sings about him being free of her "rule" and being alive, not her zombie anymore, and it doesn't matter what she says or tells him to do, because he's not listening anymore.
The last verse is just saying that even if she claimed her way was "right" or "true", he didn't believe in it, because he didn't believe in her. And she didn't matter anymore, because now that she doesn't have him to boss around, she's over.

The girl thinks she's everything a boy could ever want; that she's more than the boy even deserves, and so she treats the boy like dirt. She tells the boy he can't do without her, like there's no way he could survive without her love when all she's really doing is smothering him.
The boy's had enough of all the "fairytales" she's feeding him; he's started to see there's not actual truth in her stories and that she's just saying the things to fool the him into believing all he can do is accept his fate.
Realizing the truth the boy leaves the girl and is telling her that instead of not surviving without her, he's alive again and all the stories she tried to feed him mean absolutely nothing. Her false kingdom has reached its end.