Holding court at Old Trafford, barely an hour after City had unveiled their most recent big-money purchase, Mario Balotelli, and confirmation of James Milner's arrival for a medical had been received, Ferguson let fly.

The Manchester United manager was careful not to mention City by name, nor any of their players, including Yaya Toure, who is said to be costing the Eastlands outfit a staggering £220,000 per week in wages.

But it took no time at all to work out who he might mean.

"Over the last two or three years we have seen very wealthy owners become part of football clubs and therefore go on this kamikaze effort to spend their money," he said.

"It is amazing the amounts of money that are being bandied about in the present day game.

"Some people may think it could be dangerous. But if they have that kind of money, they are certainly using it.

"I don't see it abating. The kind of spending we are seeing at the moment will be here for two or three years, until such time as they understand you can't necessarily achieve all the time by spending."

Flanked by his own new arrivals - Javier Hernandez, Chris Smalling and Bebe - Ferguson knew exactly what he was doing, while also allowing himself some wriggle room should he be criticised for attacking City outright.

For some time now the United boss has struck to his mantra of not buying big because there was "no value" in the transfer market.

He maintains there is money to spend, despite the huge debts incurred by the Glazer family's ownership of the Old Trafford outfit.

However, the man who splashed out a club record £30.75million on Dimitar Berbatov has now clarified exactly what he is looking for when he talks about value.

"We could have bought one or two players for a lot of money in the summer but I didn't necessarily see that they were going to make us really so much better," he said.

"Take away the money side of it; the actual players we looked at would not have done what Eric Cantona did for us for instance, or Wayne Rooney or Cristiano Ronaldo.

"That is what I am talking about. You are trying to make that quantum leap to another level."

As opposed to City, who now have their star names but Roberto Mancini must find a way to gel them together and maintain harmony at the same time, Ferguson feels United are ticking along nicely.

"If you take away our young players from the equation, then you see a reasonable group of players with experience," said Ferguson before name-checking eight without stopping.

"They could probably give more help to our young players than any other club in the country because of the experience they have gathered.

"Ryan Giggs has 11 championship medals, Paul Scholes 10, Gary Neville nine. That is an incredible amount of experience to pass onto young players.

"Rio Ferdinand has been with us eight years and picked up four championship medals and the FA Cup and European Cup.

"Players like that are my back-up. When I take away all the young players, I have that squad of experienced players. That is what I will rely on."

After repeated dire summer warnings of what was to come, United have made a confident start to the new campaign.

An excellent performance against Chelsea in the Community Shield was followed by a comfortable win against Newcastle last night that ensures Ferguson's side have kept pace with last season's double winners, who made their own flying start, and nudged ahead of the four challengers who cancelled each other out over the weekend.

That Giggs should add the gloss with a superb late volley should come as no surprise.

The Welshman is the only player to score in all 19 Premier League campaigns, which is nothing short of extraordinary.

His next birthday is his 37th, so there is a finite amount of time he can go on for.

But Ferguson has no doubt his place in United's history is assured.

"Ryan is one of this club's greatest players," said Ferguson.

"His desire to stay in the game is exceptional. He is preparing for next season in the way he looks after himself.

"He conducts himself in exactly the right way. He does his yoga and, including yesterday's match, he has done 37 fitness sessions already since we came back for pre-season without missing a single one."