Which ADD'er asked for a TLDR? The original is excellent and had me cackling near the end part " Economic Growth (Translated - LOL)" 😂

It's not worth the paper it's printed on.

They sound just about identical to Treasury bonds/notes other than the history bit. It is possible to pay off the debt, by defeasing it with something that grows faster. Not every country can likely do this as someone needs to accept the fiat for the faster growing asset, but it is possible for some nations to survive the high stakes musical chairs. That asset growing faster than fiat rots seems like it could be Bitcoin with some clever financial management.