The mechanism for U.S. currency creation and management is constantly evolving, and its effects are as well.
Effectively what we're talking about are central bank operations, which is a dry and boring subject within economics, that is both misunderstood by mainstream economists and misused (for political reasons) by heterodox economists (many of whom are charlatans).
Generally speaking though, everyone tends to agree that central bank policies became looser over the 20th century, and IMHO that's really the only relevant kernel of truth in the OP link, who seems to be a promoter of fringe economic theories.
The best place to read about the topic is at the Federal Reserve Bank's website. Alternatively, I would recommend reading any of this :
