XRP is not an IOU. It's a deflationary, math-based currency, just like Bitcoin.
That's a laugh. XRP is NOTHING like Bitcoin. Bitcoin is completely transparent and provable with math. ALL Bitcoin transactions from day 1 are available for viewing and auditing by anyone. That's not true for Ripple.
I understand certain people on this forum want to pump Ripple, but please stop trying to hang on Bitcoin's coattails to do it.