A parallel plate capacitor in a vacuum can indeed generate a magnetic field due to a variable electric field, even without moving electrical charges. The discussion highlights that when a voltage is applied, the relationship between charge (Q), capacitance (C), and voltage (V) leads to a displacement current that can create a magnetic field. Inserting a dielectric affects the electric field and requires additional charge to maintain voltage, resulting in a current in the external circuit. Theoretical backing from Maxwell's equations supports the idea that a changing electric field is sufficient to produce a magnetic field. Thus, a capacitor connected to an AC supply can exhibit a magnetic field in the absence of moving charges.