This is one of the most confusing things in all the thoroughly messed up relationship in English between spelling and pronunciation. (1) The present tense of this verb is spelled "Read" and pronounced "reed" (a noun meaning a type of wild grass). (2) The past tense and the past participle are also both spelled "read" but pronounced "red" (supposedly to distinguish them from the adjective, "red", used for a colour at the longwave end of the visible spectrum)..(3) There is a similar verb "lead" whose past is both spelled and pronounced "led", but in this case we have a noun "lead" with the same spelling but pronounced "led" which is the name of a common malleable metal. (4) To add to all the confusion, English has "heed", spelled as it is pronounced, a verb meaning "to pay attention, and whose past tense is the regular "heeded" but which it is easy to confuse with "head" (as a noun, the top of something, as a verb to be in charge or or to hit with the forehead), which is pronounced "hed", and has the regular past tense "headed"--pronounced "hedded".(5) "Read" originally meant to advise someone or prepare something (as its cognates in other German languages still do), whence we have the adjective "ready" (meaning prepared) with the same pronunciation as "reddy" meaning "tinged with the colour red". At the end of the first millenium England had a king called Edward the Unready, meaning "ill advised" which is nowadays always misunderstood for "not prepared."(6) After all that, I have to mention the city of Reading, the historic county town of Berkshire, written as if it were the present participle of the verb "to read" but pronounced "redding"--whence the joke about its public library's annual report said to have been entitled "reading in Reading" (pronounced "reeding in redding.").(7) And just in case you have been taught that etymology can explain all the anomalies of English orthography, please note that, on strictly etymological grounds, "red" should have been read (EA corresponds historically to the primitive Germanic dipthong AU), while "read" should have been red (E generally corresponds to the primitive Germanic long vowel A). (8) Finally, while "reeded" exists and means "supplied with reeds", as does "leaded" (meaning "with lead as an addititve"), I have yet to meet your supposed past tense *readed" and would dearly like to know where you came across it....
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