As claims billionaire investor Jim Rogers, chairman of Rogers Holdings, US needs to stop printing money and take on austerity measures like the Europeans did to let the economy recover. 

"I'd rather have the Europeans running the US Central Bank than the people running the US central bank, least they know how to try to build for the future," he said in an interview. He also added: “In America, Bernanke just says we'll print more money, we'll spend more money, even though the United States is now the largest debtor nation in the history of the world."

Rogers reiterated that economies in trouble should be allowed to go under, like bad companies.

He has a firm belief, things that have worked in the past will be you go bankrupt then you re-organize and you start over. You have a painful period for awhile, and then you start over.

"Trying to push the problem out to the future, and printing money, we just had another example here in the US, it didn't work and it's not going to work."

Rogers stated that with central banks "flooding the world with money", the only place to invest right now is in real assets, whether it's in "silver, or rice or natural gas". "Paper money is not going to do it for you," he also added.