Jim Rogers, CEO of Rogers Holdings, told CNBC Europe Wednesday:

“No country in the world has ever succeeded by debasing its currency,” he said. “That’s what this man is trying to do. He’s trying to debase the currency as a way to revive America. It has never worked in the long term or the medium term.”

‘Socialism for the Rich‘

The Fed’s move to accept risky collateral is not part of the central bank’s business, he added.

“What is Bernanke going to do? Get in his helicopter and fly around the world and collect rents? That’s absurd,” Rogers said.

Also, investment banks should be allowed to fail.

“Listen, investment banks have been going bankrupt since the beginning of time. If people make mistakes — if you bail out every investment bank that gets in trouble, that’s not capitalism, that’s socialism for the rich,” he said.