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Quite frankly... 

implies that there is more to be said, but better left unspoken, albeit an honest statement of affairs, but again, left unsaid.
Person 1: The date is Feb 14, 2069 and I still have never held a girl's hand

Person 2: Quite frankly...

frankly my dear I don't give a damn 

A quote from the movie Gone With the Wind. In those days swear words never came in big movies and the director was in trouble. Before the movie was released, he had an option to either change it, or pay $5,000 (which was worth a lot!). He payed the fine of $5,000 and it the quote became famous, it topped AFI's list of top quotes.

There's even a wikipedia article about it that I can't link to because it's too long.
Scarlett: What's going to happen to me?
Rhett: Frankly my dear I don't give a damn

Frankly Its Titanic 

A term used mainly to express your positive feelings towards a situation, Frankly Its Titanic or F.I.T. This term is highly used in the south of England by people who follow one "James McKellar" some sort of spiritual leader? Or just a stud muffin? Who knows but his term rocks my socks!
Player : Supp Fooool !! How's It?!?

Fool : Supp Playerrrrrrr, FRANKLY ITS TITANIC!!
Frankly Its Titanic by isinkships September 14, 2010
Honestly; in a frank. From the Frankish people of medieval West Germany and France, and one of many Germanic federations.

Is often used by bourgeois elitists in attempt at appearing intelligent. Almost always said after "quite" and sometimes in a sentence with "rather", two other completely useless words.
"Quite frankly, Mater, I found the performance to be rather dull."
Frankly by 549721554245 December 20, 2006
A word used as a license to ignore all political correctness and allow you to say whatever you damnwell want, regardless of who you offend and whether or not they are right in front of you.
.... and frankly, I don't think Peter is capable of doing his job. Oh hi Pete....
Frankly by Greeenie October 28, 2010
The one word Donald Trump for some reason loves to use in every sentence.
"Frankly, we did win this election" - Trump
Frankly by DJ Nikster Whale November 17, 2020