ESPN: The Reds arrive at Old Trafford for Sunday's third-round FA Cup tie mired in turmoil, having suffered an embarrassing 3-1 defeat on Wednesday.
The gulf between both sides has never been greater going into Sunday's clash, with United leading the Barclays Premier League and Liverpool in 12th, four points off the drop zone.
It could well be Roy Hodgson's final match as Reds manager after just six months in the job - in contrast to Sir Alex Ferguson's 24-year reign at Old Trafford.
Giggs, who has witnessed and contributed to Liverpool's 10-year title drought, believes United will never experience the same sort of decline the Merseyside club has suffered - the reason being the foundation Sir Alex Ferguson has laid.
"Our manager is not always looking just for this season," the Welshman was quoted as saying in the Daily Mirror newspaper.
"He buys players with a view to the future, which he's done more and more over the last few years.
"He's bought players like Cristiano Ronaldo, Wayne Rooney, Anderson and Nani - all young players who have got the ability to go on and be better, and all of whom have done that.
"Now we've got the next batch, the likes of Javier Hernandez, Rafael and Fabio Da Silva, Gabriel Obertan and Chris Smalling, all young players who will hopefully get better over the next few years.
"The manager is experienced enough to know that we'll be challenging for the league this season and long after that because of the nucleus of the squad we have, as well as adding fresh blood, which gives everyone a lift."
But despite the chaos at Liverpool, Giggs has refused to take them lightly on Sunday as he believes the Reds will have a point to prove - and they have the players to do so.
"Liverpool are a big club but they've obviously had massive problems off the pitch," said Giggs. "They've had a new manager this season and new owners, and they haven't got off to the start they'd wished.
"But they have got quality players in their team, and when you've got that, you've always got a chance. Losing is like winning, in that it can become a habit.
"Once you start losing, the luck doesn't seem to go for you. Whereas if you're winning, it does seem to go for you. If you're not doing too well and your league form isn't what it should be, which is the case with Liverpool, the FA Cup is always a release.
"It's a one-off, so it can be something a team that isn't doing too well can look forward to and something they can enjoy. But we'll be up for it and won't be taking anything for granted.
"No matter how the two teams are doing, and Liverpool aren't doing too well at the moment, I always say that form goes out of the window, purely because of the history and rivalry between the two clubs.
"They'll have 9,000 fans at Old Trafford, so the atmosphere will be electric and, no matter how badly they're doing right now, Liverpool have still got some world-class players.
"There's not many teams in the Premier League who have got world-class players like Liverpool, the likes of Steven Gerrard, Fernando Torres and Jose Reina. So we'll have to be fully focused."
Giggs will celebrate his 20th anniversary at United in March and while talks of his retirement will continue to haunt him, the 37-year-old insists he is still enjoying every competition, and that includes the FA Cup.
"I don't approach a game like this thinking it could be the last time I play against Liverpool," said Giggs. "It's more like it could be my last chance to win the FA Cup.
"I just want to go out and enjoy it, and I feel if I do that I'll be at my best. The FA Cup is a great competition where anything can happen.
"You saw that last year, when we lost to Leeds in the third round at home. You're never surprised at what the FA Cup can throw up - sendings off, freak goals, anything can happen and you can be out.
"Last season was tough. Not only were we out of the FA Cup after one game, we'd lost to a big rival like Leeds. You don't want that feeling again, certainly not against our biggest rivals Liverpool.
"The FA Cup has still got that unique romance about it. The atmosphere on Sunday, you wouldn't get that in a Premier League game, because Liverpool will be brining more fans with them than normal.
"These are the kind of games you look forward to, the kind you want to be involved in. And you want to get to Wembley. It's the FA Cup, it was my first memory of football growing up, watching it on TV. So it's still a special competition for all players."
Giggs will be looking to add to his four FA Cup titles he has won with United.
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