irredeemable

adj

1. Not redeemable; not able to be restored, recovered, revoked, or escaped.

   “It wavered an instant—then there was a heartrending crash—and the canary-coloured cart, their pride and their joy, lay on its side in the ditch, an irredeemable wreck.”

   “She was horribly frightened; but she had pledged her word now, and it was irredeemable.”

   “To Mr. [Jeff] Epstein, Mr. [Steve] Bannon said that while others called him irredeemable, “you are a lot of things — which we will show — but you are NOT that.””

2. (usually)Not able to be cancelled by a payment or converted to another form of currency or financial instrument, especially one considered more secure or reliable.

   “The subscribers to a new loan, who mean generally to sell their subscription as soon as possible, prefer greatly a perpetual annuity, redeemable by parliament, to an irredeemable annuity, for a long term of years, of only equal amount.”

   “Investors have always had to trust somebody or something. . . . But they have not always had to make a leap of faith about a nation's irredeemable paper currency. Up until Aug. 15, 1971 the dollar was exchangeable into gold at the rate of $35 to the ounce.”

noun

1. A financial instrument that cannot be freely redeemed.