I was having a similar issue while back ago, and it turned out to be an IE 
related setting for me:

IE -> Internet options- > Advanced -> Security -> Uncheck "Do not save 
encrypted pages to disk"


Rami

From: [email protected] [mailto:[email protected]] On 
Behalf Of David McSpadden
Sent: Friday, March 13, 2015 10:55 AM
To: [email protected]
Subject: [Exchange] images not showing in message but show in forwarded message

User get image cannot be displayed in mail message, clicks forward and can see 
the image in the forwarded message?
What settings am I missing on this Windows 7 32 bit Outlook 2010 with no 
add-ins running workstation?


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