"Despite his impressive abilities, he never underestimates his opponents, given his praise of Jiraiya, saying the best he could do against the Sannin was a stalemate."
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If Itachi=Jiraiya, Itachi's words not mine, I wonder how Minato would do against Itachi.
Unless you are trying to say Jiraiya>Minato.
A) Not trying to say it, I'm stating it prety clearly... Sage Mode > FTG...
They both give a major boost to your speed, but FTG needs some forplaning to work, and, if a SM user has a way to send away any incoming kunai, he can quickly take out the FTG user before he even gets to use FTG. SM is a very underrated ability, and we only caught a glimps to it's greatness from Kabuto (eventhough I don't like Kabuto, it has to be said...), far greater than merely teleporting to a Kunai...
B) Itachi > Jiraiya by far. He merely didn't want to create a war, as it was later revealed that the reason he appeared, was to remind Danzo he was out there, and that Danzo ought to keep his part of the deal. It's not even a mach for Itachi. His base speed is 5, same with Minato's, so he can keep up with SM Jiraya's speed. Then, he can instantly activate Susano (as shown when he activated it to dodge Kirin, one of the fastest jutsu in the series), so he has a milion ways to Kill him. Minato would not be much diferent. They have the same base speed, arguably Minato being slightly faster, but, a mere kunai won't break what a Kiubi Mode Rasengan couldn't: Susano. So, Minato has no way to reach Itachi, Wile Most of Itachi's moves are instant kill, and only have to strike once. As one can say that Minato might use barier against Amateratsu, eventhough I dissagree for multiple reasons, I'll neglect that. Totsuga Sword basically seals anything it touches, and Minato can't do a thing to avoid that. But, Minato's greates weakness is in fact the very specialty of Itachi: Genjutsu. He has shown next to no resistance to it, but, even if he had, Itachi clearly said that only a Sharingan can break Tsukoyomi. As soon as he looks into Itachi's eyes, it's over. Even if he somewhat resists to Tsukoyomi, like Kakashi did (and I find it quite propable), his 1 second of vulnerability will be enough for Itachi to either seal him with Totsuga, burn him with Amateratsu or Crush him alive with Susano. Face it, fanboys, Minato's best chance of surviving a battle with Itachi is to FTG miles away, and hope Itachi doesn't find him again in his life...