"Printing money" is only a euphemism for "expanding the money supply." I thought that would be obvious. I know the Fed doesn't actually print the currency or mint coins.
I like Zed, but this is full of bullshit. Every economist worth the name (fuck that Krugman/keynesian bullshit, read some Tyler Cowen, Peter Boettke, Steve Horwitz) knows that the Fed is to blame for the current episode of the business cycle. They printed too much money, it causes inflation and, even worse, disastrous malinvestments. In short: printing money fucks up the structure of production.
Moreover, the Fed isn't even a libertarian institution. He tries to discredit libertarianism by proclaiming that an airhead like Greenspan is a libertarian. He's not. He might once have said he was one, his actions have proven otherwise. The Fed is a government monopoly on money. And that's a bad thing.