I dont think deep down Wenger truely believe that.
Since they moved to their new stadium he hasnt been given the money to spend.
Henry, Pires, Ljungberg, Edu, Vieria, Petit, Gilberto, Kanu, Wiltord, Toure - all bought, some for decent money to.
I think his idea was that he would need to spend money until a time when the youth team started paying dividends in terms of the number of players making it into the first team.