No, the 'Federal Reserve Notes' aren't actually printed by the Federal Reserve (they are printed by the Treasury) BUT, they are printed at the behest of the Federal Reserve. (The Fed determines the amount of currency and credit in the economy, NOT the Treasury.)

Sorry, this video is more misleading than the statement: "The Fed-prints-money." Or, to put that another way: The Federal Reserve System doesn't literally 'create money out of thin air,' it doesn't pull out a magic hat and say 'abracadabra.' But the result is the same...where once the money / credit didn't exist, now it does thanks to the power of the Fed.

If you want more info on how our banking system operates (how it drives prices up, creates booms and busts, transfers power from the productive class to the financial elite, creates inescapable debt, etc.) there is a short / free book available online. Google "Meet The System" 

Oh son-of-a-gun. I was hoping that the Fed had a little usefulness. Now I find that not only are they entirely useless, but they are totally a detriment to society besides.

The Fed does not print money. They order it from the U.S. Government, then the fed pays approx. $0.03 per bill ( the cost of labor and material ) whether it be a $1 bill or $100 bill. If the money is lent to the U.S. Gov't the fee is 10%. The fed orders trillions of dollars printed for their private distribution with no audit. WE just bailed out the European Central Bank at the expense of the Anerican dollar through inflation. 

To understand the fed, watch this cartoon: http://youtu.be/okZ1OCLFey8

 PLEASE VISIT www.understandingmoney101.com