Not true. Not at all. At the same time however considering the budget level of your system you will get more improvement for your money with a couple sets of Nobsound springs. Three sets for $90 will do your speakers, turntable, and CDP. This will be a lot bigger improvement than any $90 you can spend on wire.
You do however still want to do those wires. The smart way is to plan ahead. If you will just be doing this and then nothing - no component upgrades at all- for a long time that is one thing. In that case take what you can spend and divide it pretty much equally. So if say $500 and speaker cable, 2 power cords, 2 interconnects, then your budget is $100 each.
Or maybe you have bigger long term plans. Might be well worth it to put $500 into one really good set of speaker cables, knowing you will upgrade one thing after another so that a year or so from now the whole system is way better.
Either one is perfectly fine so long as you know and have a plan. Otherwise you listen to random knee-jerk ideas, real easy to find yourself having spent a lot with not all that much to show for it.