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Date: Fri, 23 Dec 2022 17:54:56 +0000
To: Andrew Sterling <andrew@sterlingcal.com>
From: The Signal <newsletter@thesgnl.co>
Reply-To: The Signal <newsletter@thesgnl.co>
Subject: Days of Future Past
Message-ID: <010f0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a258-000000@us-east-2.amazonses.com>
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<body>
<div style=3D"margin: 10px 10px; max-width: 650px;">
<div style=3D"margin: 0px 20px; max-width: 650px;">&nbsp;</div>

<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"5" ro=
le=3D"presentation" style=3D"font-size: 0px; width: 100%;">
=09<tbody>
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e: all; font-size: 1px; color: #ffffff; line-height: 1px; max-height: 0px; =
max-width: 0px; opacity: 0; overflow: hidden;">
=09=09=09<p>Is war in Ukraine splitting the world into two camps again? Luc=
an Way on the emerging competition for global supremacy.</p>
=09=09=09</td>
=09=09</tr>
=09</tbody>
</table>
</div>
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=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
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=09=09=09=09=09=09=09<tbody>
=09=09=09=09=09=09=09=09<tr>
=09=09=09=09=09=09=09=09=09<td style=3D"width:650px;"><a href=3D"https://c1=
9gz9zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fsendy.thesgnl.co%2Fl%2F47Qrwd=
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.059.jpeg?1671740379" style=3D"border:none;border-radius:0;display:block;ou=
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=3D"650" /> </a></td>
=09=09=09=09=09=09=09=09</tr>
=09=09=09=09=09=09=09</tbody>
=09=09=09=09=09=09</table>
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=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;padding-top:16px;">
=09=09=09=09=09=09<div style=3D"cursor:auto;color:#95989C;font-family:-appl=
e-system,BlinkMacSystemFont,'Segoe UI',Helvetica,sans-serif;font-weight: 40=
0;font-size:13px;line-height:21px;text-align:center;">&nbsp;</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
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=09=09=09</div>
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=09</tbody>
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0" width=3D"600" align=3D"center" style=3D"width:650px;">
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    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
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<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-left:30px;padding-right:=
30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"left" style=3D"word-break:break-word;font-si=
ze:0px;padding:0px;padding-bottom:24px;">
=09=09=09=09=09=09<div class=3D"header-text" style=3D"cursor:auto;color:#03=
0A10;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Helvetica,sans=
-serif;font-size:24px;font-weight:700;line-height:32px;text-align:left;colo=
r: #B7985E;">A New Ice Age</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
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<![endif]--></td>
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</table>
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<![endif]--><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0" width=3D"600" align=3D"center" style=3D"width:650px;">
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    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
;">
<![endif]-->

<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"left" style=3D"word-break:break-word;font-si=
ze:0px;padding:0px;">
=09=09=09=09=09=09<div class=3D"text-default" style=3D"cursor:auto;color:#0=
00000;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Helvetica,san=
s-serif;font-size:16px;line-height: 24px;text-align:left;font-weight:400;">
=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;">Is war in Ukra=
ine splitting the world into two camps again? Lucan Way on the emerging com=
petition for global supremacy.</div>
=09=09=09=09=09=09</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
</td></tr></table>
<![endif]--></td>
=09=09</tr>
=09</tbody>
</table>
</div>
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</td></tr></table>
<![endif]--><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0" width=3D"600" align=3D"center" style=3D"width:650px;">
  <tr>
    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
;">
<![endif]-->

<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;">
=09=09=09=09=09=09<table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"border-collapse:collapse;bor=
der-spacing:0px;">
=09=09=09=09=09=09=09<tbody>
=09=09=09=09=09=09=09=09<tr>
=09=09=09=09=09=09=09=09=09<td style=3D"width:650px;"><a href=3D"https://c1=
9gz9zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fsendy.thesgnl.co%2Fl%2F47Qrwd=
ESMr6NDlbHE4k9mA%2FIykbxfucjH8xWAkn2ayrMw%2Fn763Ub62VyHtNtNk892tS5o5TA/1/01=
0f0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a258-000000/BziTr6O-Gom0zPap=
Df_8r7Xpb_8=3D86" target=3D"_blank"><img alt=3D"Pavel Neznanov" height=3D"a=
uto" src=3D"https://s3.amazonaws.com/revue/items/images/019/687/422/mail/BA=
NNER-12_22.jpg?1671729434" style=3D"border:none;border-radius:0;display:blo=
ck;outline:none;text-decoration:none;width:100%;height:auto;" title=3D"Pave=
l Neznanov" width=3D"650" /> </a></td>
=09=09=09=09=09=09=09=09</tr>
=09=09=09=09=09=09=09</tbody>
=09=09=09=09=09=09</table>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;padding-top:16px;">
=09=09=09=09=09=09<div style=3D"cursor:auto;color:#95989C;font-family:-appl=
e-system,BlinkMacSystemFont,'Segoe UI',Helvetica,sans-serif;font-weight: 40=
0;font-size:13px;line-height:21px;text-align:center;">Pavel Neznanov</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
</td></tr></table>
<![endif]--></td>
=09=09</tr>
=09</tbody>
</table>
</div>
<!--[if mso | IE]>
</td></tr></table>
<![endif]--><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0" width=3D"600" align=3D"center" style=3D"width:650px;">
  <tr>
    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
;">
<![endif]-->

<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"left" style=3D"word-break:break-word;font-si=
ze:0px;padding:0px;">
=09=09=09=09=09=09<div class=3D"text-default" style=3D"cursor:auto;color:#0=
00000;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Helvetica,san=
s-serif;font-size:16px;line-height: 24px;text-align:left;font-weight:400;">
=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><strong>Since =
Russia first invaded Ukraine on February 24,</strong> Vladimir Putin has sp=
oken of the attack as part of a civilizational conflict with the West&mdash=
;like <a href=3D"https://c19gz9zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fse=
ndy.thesgnl.co%2Fl%2F47QrwdESMr6NDlbHE4k9mA%2FpiTERJ3f6U9zpyg46pc2Xw%2Fn763=
Ub62VyHtNtNk892tS5o5TA/1/010f0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a=
258-000000/Dbdlp2NF-cT0FbwZjqH36w3-BSc=3D86" style=3D"color:#333333;text-de=
coration:underline;" target=3D"_blank">the Cold War</a>&mdash;while he and =
his military leaders continue to threaten the use of nuclear weapons. Today=
, the Russia of Putin looks far weaker than the empire of Stalin and Brezhn=
ev ever did, with Moscow having failed to achieve almost all its goals in U=
kraine&mdash;and many of the Soviet Union&rsquo;s old satellite states now =
NATO members. At the same time, Russia has become much closer to China than=
 it was in the communist era, as Xi Jinping pursues his declared ambitions =
to counter the global power of the United States. The U.S. and the EU have =
meanwhile moved to <a href=3D"https://c19gz9zr.r.us-east-2.awstrack.me/L0/h=
ttps:%2F%2Fsendy.thesgnl.co%2Fl%2F47QrwdESMr6NDlbHE4k9mA%2FpiTERJ3f6U9zpyg4=
6pc2Xw%2Fn763Ub62VyHtNtNk892tS5o5TA/2/010f0185401fae4c-dad28eea-21ea-4e7e-b=
6fe-354ebed9a258-000000/t4iKl9sN9KCe_-t-g2ViaASuFiI=3D86" style=3D"color:#3=
33333;text-decoration:underline;" target=3D"_blank">break off</a> economic =
relations with Russia and halt the development of <a href=3D"https://c19gz9=
zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fsendy.thesgnl.co%2Fl%2F47QrwdESMr=
6NDlbHE4k9mA%2FgbR6B3IAAIgiAEPbRHH763xw%2Fn763Ub62VyHtNtNk892tS5o5TA/1/010f=
0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a258-000000/XN-ouMNyzE63QHUhIe=
HGzKi2SQU=3D86" style=3D"color:#333333;text-decoration:underline;" target=
=3D"_blank">Chinese tech industries</a>. From the end of World War II throu=
gh the fall of the Berlin Wall, the world was fundamentally split into two =
hostile blocs. Is it happening again?</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09To <strong>Lucan Way</strong>, it is. Way is a professor =
of political science at the University of Toronto and the author of three b=
ooks on authoritarianism. Much of the globe, he says, has been dividing int=
o two camps, democratic and authoritarian&mdash;&ldquo;the free and the unf=
ree&rdquo;&mdash;and the conflict between them is deepening. But the nature=
 and contours of this new division are different. Now, the two sides aren&r=
squo;t fighting over an ideology, as the democratic and communist blocs of =
the Cold War were. Also, there are regionally powerful countries today that=
 can challenge the goals of the democrats or the authoritarians&mdash;or co=
operate with either. In the absence of an organizing ideological dimension,=
 and with the presence of other powerful actors, Way sees the new era of gl=
obal conflict becoming more chaotic&mdash;and ultimately more unpredictable=
&mdash;than the Cold War ever was.</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;">&nbsp;</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;">&mdash;&mdash;=
&mdash;</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09<strong>Michael Bluhm</strong>: Putin has framed the Ukra=
ine war as a proxy conflict with the West and NATO. Even after the fall of =
the Soviet Union, he says, NATO has never stopped aggressively expanding it=
s borders and threatening Moscow.</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;">But now the wa=
r seems to have made Russia much weaker&mdash;even weaker than the Soviet U=
nion was toward the end of its history. What has Putin done to Russia&rsquo=
;s position in the world here?</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09<strong>Lucan Way</strong>: First of all, Russia is much =
richer today than it was in that time of the Soviet Union. Until very recen=
tly, it had a dynamic market economy.</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09The main difference between the eras is that, during the =
Cold War, the Soviet Union had a universal ideology that could be applied t=
hroughout the world: communism. It was the Soviets&rsquo; counterpart to th=
e also-universal liberal-democratic ideology of America and its allies.</di=
v>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;">The Cold War i=
nvolved a distinctive, global competition for influence. Every local confli=
ct around the world became infused with this broader great-power conflict&m=
dash;in no small part because of these competing ideologies.</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09Today liberal democracy has had its setbacks around the w=
orld, but there&rsquo;s still a global liberal-democratic ideology. There i=
sn&rsquo;t a global authoritarian ideology. There are just a lot of parochi=
al nationalists with authoritarian playbooks. The movements supporting them=
 don&rsquo;t speak to any global ideology. In that sense, Russia&rsquo;s be=
en reduced from a country with global ambitions, based on a global idea, to=
 a corrupt dictatorship based on the power of a single person.</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09<strong>Bluhm</strong>: The historian Tim Sayle <a href=
=3D"https://c19gz9zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fsendy.thesgnl.c=
o%2Fl%2F47QrwdESMr6NDlbHE4k9mA%2FpiTERJ3f6U9zpyg46pc2Xw%2Fn763Ub62VyHtNtNk8=
92tS5o5TA/3/010f0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a258-000000/Gv=
MKHIK_iJZUr5FLYUvs6WlSAgo=3D86" style=3D"color:#333333;text-decoration:unde=
rline;" target=3D"_blank">said</a> in March that the invasion of Ukraine ha=
d brought a period of newfound unity and shared moral clarity to the West.<=
/div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09How do you see this today&mdash;with persistent inflation=
 and rising energy costs triggering protests across so many European countr=
ies?</div>
=09=09=09=09=09=09</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
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=09=09</tr>
=09</tbody>
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    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
;">
<![endif]-->

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<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
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=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
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=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;">
=09=09=09=09=09=09<table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"border-collapse:collapse;bor=
der-spacing:0px;">
=09=09=09=09=09=09=09<tbody>
=09=09=09=09=09=09=09=09<tr>
=09=09=09=09=09=09=09=09=09<td style=3D"width:650px;"><a href=3D"https://c1=
9gz9zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fsendy.thesgnl.co%2Fl%2F47Qrwd=
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0f0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a258-000000/eO58YVHpOl4jK0AC=
YEWujSrDW_k=3D86" target=3D"_blank"><img alt=3D"Advertisement" height=3D"au=
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=09=09=09=09=09=09=09=09</tr>
=09=09=09=09=09=09=09</tbody>
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=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;padding-top:16px;">
=09=09=09=09=09=09<div style=3D"cursor:auto;color:#95989C;font-family:-appl=
e-system,BlinkMacSystemFont,'Segoe UI',Helvetica,sans-serif;font-weight: 40=
0;font-size:13px;line-height:21px;text-align:center;">Advertisement</div>
=09=09=09=09=09=09</td>
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=09=09=09</div>
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    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
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<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"left" style=3D"word-break:break-word;font-si=
ze:0px;padding:0px;">
=09=09=09=09=09=09<div class=3D"text-default" style=3D"cursor:auto;color:#0=
00000;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Helvetica,san=
s-serif;font-size:16px;line-height: 24px;text-align:left;font-weight:400;">
=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><strong>Way</s=
trong>: I was impressed early on by the remarkable unity we were seeing in =
Europe. I did feel somewhat apprehensive about the possibility of European =
fatigue with the war&mdash;just because most conflicts that initially spark=
 widespread outrage tend to get normalized fairly quickly; we&rsquo;ve seen=
 this in Afghanistan and elsewhere. But polls in Europe still show overwhel=
ming support for Ukraine, now nearly 10 months after the invasion. The resi=
lience of the sentiment has surprised me.</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09Back in March, French President Emanuel Macron and German=
 Chancellor Olaf Scholz <a href=3D"https://c19gz9zr.r.us-east-2.awstrack.me=
/L0/https:%2F%2Fsendy.thesgnl.co%2Fl%2F47QrwdESMr6NDlbHE4k9mA%2FTKyn0Gdf763=
pb78lLUaar8Tw%2Fn763Ub62VyHtNtNk892tS5o5TA/1/010f0185401fae4c-dad28eea-21ea=
-4e7e-b6fe-354ebed9a258-000000/ABXb5RJu-g7yjd73-2EDhFQ700s=3D86" style=3D"c=
olor:#333333;text-decoration:underline;" target=3D"_blank">were arguing</a>=
 that the West should negotiate with Putin. But they&rsquo;ve completely ab=
andoned that rhetoric&mdash;and the biggest reason is the simplest: Russia =
has just behaved so atrociously that Europe is more unified now than it was=
 at the outset of the war.</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09Also in March, there was a conflict between the United St=
ates, on the one hand, and Macron and Scholz. The U.S. was saying, <em>We h=
ave to fight the Russians, give Ukraine weapons, and win the war.</em> Macr=
on and Scholz were saying, <em>No, we have to reach out. There has to be a =
negotiated solution</em>. But Putin has shown such a complete unwillingness=
 to compromise or adjust his fundamental goals, despite multiple military l=
osses, that he effectively ended that debate.</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09And then, since March we&rsquo;ve seen a tremendous decou=
pling between Europe&rsquo;s economy and Russia&rsquo;s. In January, the Eu=
ropean Union relied on Russia for more than 40 percent of its natural gas. =
Now that number&rsquo;s down to 17 percent.</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09To be fair, there are elements of Ukraine fatigue, but th=
ere are also now structural reasons for long-term unity in Europe against R=
ussia. Until recently, Russia had deep ties with the European elite. The fo=
rmer German chancellor Gerhard Schroeder was even on the board of Gazprom, =
the main Russian gas provider, until the invasion of Ukraine. Those days ar=
e over. Putin has completely broken these ties. And there&rsquo;s no way Eu=
rope&rsquo;s going to re-establish them&mdash;at least in the medium term.<=
/div>
=09=09=09=09=09=09</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
</td></tr></table>
<![endif]--></td>
=09=09</tr>
=09</tbody>
</table>
</div>
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    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
;">
<![endif]-->

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<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;">
=09=09=09=09=09=09<table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"border-collapse:collapse;bor=
der-spacing:0px;">
=09=09=09=09=09=09=09<tbody>
=09=09=09=09=09=09=09=09<tr>
=09=09=09=09=09=09=09=09=09<td style=3D"width:650px;"><a href=3D"https://c1=
9gz9zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fsendy.thesgnl.co%2Fl%2F47Qrwd=
ESMr6NDlbHE4k9mA%2FIykbxfucjH8xWAkn2ayrMw%2Fn763Ub62VyHtNtNk892tS5o5TA/2/01=
0f0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a258-000000/iF3SwbabFKInJcsg=
N3vpWDtyONo=3D86" target=3D"_blank"><img alt=3D"Jingshan Park" height=3D"au=
to" src=3D"https://s3.amazonaws.com/revue/items/images/019/687/420/mail/ali=
ve_lz-AukFxXK9nyo-unsplash.jpg?1671729393" style=3D"border:none;border-radi=
us:0;display:block;outline:none;text-decoration:none;width:100%;height:auto=
;" title=3D"Jingshan Park" width=3D"650" /> </a></td>
=09=09=09=09=09=09=09=09</tr>
=09=09=09=09=09=09=09</tbody>
=09=09=09=09=09=09</table>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;padding-top:16px;">
=09=09=09=09=09=09<div style=3D"cursor:auto;color:#95989C;font-family:-appl=
e-system,BlinkMacSystemFont,'Segoe UI',Helvetica,sans-serif;font-weight: 40=
0;font-size:13px;line-height:21px;text-align:center;">Jingshan Park</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
</td></tr></table>
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=09=09</tr>
=09</tbody>
</table>
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0" width=3D"600" align=3D"center" style=3D"width:650px;">
  <tr>
    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
;">
<![endif]-->

<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"left" style=3D"word-break:break-word;font-si=
ze:0px;padding:0px;">
=09=09=09=09=09=09<div class=3D"text-default" style=3D"cursor:auto;color:#0=
00000;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Helvetica,san=
s-serif;font-size:16px;line-height: 24px;text-align:left;font-weight:400;">
=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><em>More from =
Lucan Way at The Signal:</em></div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09&ldquo;<strong>We&rsquo;re seeing a starker divide</stron=
g> between the free and the unfree in the world today than we&rsquo;ve ever=
 seen before. During the Cold War, you had communist and anti-communist blo=
cs. The communist world was completely autocratic, but the anti-communist w=
orld included many military dictatorships, which were propped up by democra=
tic countries precisely because these dictatorships were Cold-War allies. T=
oday, with Hungary and Poland, we do have autocracies on the Western side, =
but this is much more exceptional now than it was then.&rdquo;</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09&ldquo;<strong>China is much more powerful</strong> than =
the Soviet Union was. It has both a very powerful military and an extremely=
 powerful economy. The Soviet Union was quite poor, but it had massive conv=
entional forces in Europe, and that was its main source of power. Beijing h=
as many more resources to challenge the United States with. But there are t=
wo problems: One, China doesn&rsquo;t have a globalizing ideology. Two, it&=
rsquo;s much more integrated into the global economy than the Soviet Union =
was&mdash;so it&rsquo;s much more constrained in its behavior. There are so=
me Cold War elements in play today, then, but there are other elements that=
 balance out the conflict on account of mutual dependence.&rdquo;</div>

=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><br />
=09=09=09=09=09=09&ldquo;<strong>In the Cold War,</strong> militaries in ma=
ny non-communist countries were inherently anti-communist, because they kne=
w they&rsquo;d be the first to suffer in a communist takeover. But militari=
es in developing countries today are often more comfortable with a country =
like China&mdash;which doesn&rsquo;t make human-rights demands and doesn&rs=
quo;t interfere in domestic governance to the same extent that the West doe=
s. And this could make them more open to an alliance with Beijing.&rdquo;</=
div>
=09=09=09=09=09=09</div>
=09=09=09=09=09=09</td>
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<![endif]--><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
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<div style=3D"margin: 0px 20px; max-width: 650px;">
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<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
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<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
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=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
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=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
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=09=09=09=09=09=09<table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"border-collapse:collapse;bor=
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=09=09=09=09=09=09=09<tbody>
=09=09=09=09=09=09=09=09<tr>
=09=09=09=09=09=09=09=09=09<td style=3D"width:650px;"><a href=3D"https://c1=
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.001.png?1648160105" style=3D"border:none;border-radius:0;display:block;out=
line:none;text-decoration:none;width:100%;height:auto;" title=3D"" width=3D=
"650" /> </a></td>
=09=09=09=09=09=09=09=09</tr>
=09=09=09=09=09=09=09</tbody>
=09=09=09=09=09=09</table>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;padding-top:16px;">
=09=09=09=09=09=09<div style=3D"cursor:auto;color:#95989C;font-family:-appl=
e-system,BlinkMacSystemFont,'Segoe UI',Helvetica,sans-serif;font-weight: 40=
0;font-size:13px;line-height:21px;text-align:center;">&nbsp;</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
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<![endif]--><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
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<![endif]-->

<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
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=09<tbody>
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<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
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<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
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=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
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=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
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=09=09=09=09=09=09<table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"border-collapse:collapse;bor=
der-spacing:0px;">
=09=09=09=09=09=09=09<tbody>
=09=09=09=09=09=09=09=09<tr>
=09=09=09=09=09=09=09=09=09<td style=3D"width:650px;"><img alt=3D"" height=
=3D"auto" src=3D"https://s3.amazonaws.com/revue/items/images/019/683/008/ma=
il/SGNL-RULE-GOLD-1.png?1653432544" style=3D"border:none;border-radius:0;di=
splay:block;outline:none;text-decoration:none;width:100%;height:auto;" titl=
e=3D"" width=3D"650" /></td>
=09=09=09=09=09=09=09=09</tr>
=09=09=09=09=09=09=09</tbody>
=09=09=09=09=09=09</table>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;padding-top:16px;">
=09=09=09=09=09=09<div style=3D"cursor:auto;color:#95989C;font-family:-appl=
e-system,BlinkMacSystemFont,'Segoe UI',Helvetica,sans-serif;font-weight: 40=
0;font-size:13px;line-height:21px;text-align:center;">&nbsp;</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
</td></tr></table>
<![endif]--></td>
=09=09</tr>
=09</tbody>
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</td></tr></table>
<![endif]--><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
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  <tr>
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<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
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=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
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<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;">
=09=09=09=09=09=09<table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"border-collapse:collapse;bor=
der-spacing:0px;">
=09=09=09=09=09=09=09<tbody>
=09=09=09=09=09=09=09=09<tr>
=09=09=09=09=09=09=09=09=09<td style=3D"width:650px;"><a href=3D"https://c1=
9gz9zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fsendy.thesgnl.co%2Fl%2F47Qrwd=
ESMr6NDlbHE4k9mA%2F1Ypyk9Ev6XNfok9fA3EVIA%2Fn763Ub62VyHtNtNk892tS5o5TA/1/01=
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_flxJtxa9k8=3D86" target=3D"_blank"><img alt=3D"" height=3D"auto" src=3D"ht=
tps://s3.amazonaws.com/revue/items/images/019/688/778/mail/IG_3AMUSIC_MOCK_=
UP.007.png?1671740554" style=3D"border:none;border-radius:0;display:block;o=
utline:none;text-decoration:none;width:100%;height:auto;" title=3D"" width=
=3D"650" /> </a></td>
=09=09=09=09=09=09=09=09</tr>
=09=09=09=09=09=09=09</tbody>
=09=09=09=09=09=09</table>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;padding-top:16px;">
=09=09=09=09=09=09<div style=3D"cursor:auto;color:#95989C;font-family:-appl=
e-system,BlinkMacSystemFont,'Segoe UI',Helvetica,sans-serif;font-weight: 40=
0;font-size:13px;line-height:21px;text-align:center;">&nbsp;</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
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<![endif]--></td>
=09=09</tr>
=09</tbody>
</table>
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</td></tr></table>
<![endif]--><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0" width=3D"600" align=3D"center" style=3D"width:650px;">
  <tr>
    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
;">
<![endif]-->

<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"left" style=3D"word-break:break-word;font-si=
ze:0px;padding:0px;">
=09=09=09=09=09=09<div class=3D"text-default" style=3D"cursor:auto;color:#0=
00000;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Helvetica,san=
s-serif;font-size:16px;line-height: 24px;text-align:left;font-weight:400;">
=09=09=09=09=09=09<div class=3D"revue-p" style=3D"margin:0;"><a href=3D"htt=
ps://c19gz9zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fsendy.thesgnl.co%2Fl%2=
F47QrwdESMr6NDlbHE4k9mA%2FjCTlyMRnIZlHNnylMFNq5A%2Fn763Ub62VyHtNtNk892tS5o5=
TA/1/010f0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a258-000000/vSNRMdNTP=
v4ieVQCtAtTojzAW38=3D86" style=3D"color:#333333;text-decoration:underline;"=
 target=3D"_blank"><strong>The Signal</strong></a>&nbsp;explores urgent que=
stions in current events around the world&mdash;to support it and for full =
access:</div>
=09=09=09=09=09=09</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
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=09</tbody>
</table>
</div>
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</td></tr></table>
<![endif]--><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0" width=3D"600" align=3D"center" style=3D"width:650px;">
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    <td style=3D"line-height:0px;font-size:0px;mso-line-height-rule:exactly=
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<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
<![endif]-->
=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;">
=09=09=09=09=09=09<table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"border-collapse:collapse;bor=
der-spacing:0px;">
=09=09=09=09=09=09=09<tbody>
=09=09=09=09=09=09=09=09<tr>
=09=09=09=09=09=09=09=09=09<td style=3D"width:650px;"><a href=3D"https://c1=
9gz9zr.r.us-east-2.awstrack.me/L0/https:%2F%2Fsendy.thesgnl.co%2Fl%2F47Qrwd=
ESMr6NDlbHE4k9mA%2F4280gC0gEk4sDvoTto0GOQ%2Fn763Ub62VyHtNtNk892tS5o5TA/1/01=
0f0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a258-000000/9vOt8lQasb3pBohD=
uIh2jmAMi40=3D86" target=3D"_blank"><img alt=3D"" height=3D"auto" src=3D"ht=
tps://s3.amazonaws.com/revue/items/images/019/683/011/mail/ALT_AVENIR_FINAL=
.002.png?1642197990" style=3D"border:none;border-radius:0;display:block;out=
line:none;text-decoration:none;width:100%;height:auto;" title=3D"" width=3D=
"650" /> </a></td>
=09=09=09=09=09=09=09=09</tr>
=09=09=09=09=09=09=09</tbody>
=09=09=09=09=09=09</table>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;padding-top:16px;">
=09=09=09=09=09=09<div style=3D"cursor:auto;color:#95989C;font-family:-appl=
e-system,BlinkMacSystemFont,'Segoe UI',Helvetica,sans-serif;font-weight: 40=
0;font-size:13px;line-height:21px;text-align:center;">&nbsp;</div>
=09=09=09=09=09=09</td>
=09=09=09=09=09</tr>
=09=09=09=09</tbody>
=09=09=09</table>
=09=09=09</div>
=09=09=09<!--[if mso | IE]>
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=09</tbody>
</table>
</div>
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</td></tr></table>
<![endif]--><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
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<div style=3D"margin: 0px 20px; max-width: 650px;">
<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"font-size:0px;width:100%;">
=09<tbody>
=09=09<tr>
=09=09=09<td class=3D"indented" style=3D"text-align:center;vertical-align:t=
op;direction:ltr;font-size:0px;padding:0px;padding-bottom:30px;padding-left=
:30px;padding-right:30px;"><!--[if mso | IE]>
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:650px;">
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=09=09=09<div aria-labelledby=3D"mj-column-per-100" class=3D"mj-column-per-=
100 outlook-group-fix" style=3D"vertical-align:top;display:inline-block;dir=
ection:ltr;font-size:13px;text-align:left;width:100%;">
=09=09=09<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" width=3D"100%">
=09=09=09=09<tbody>
=09=09=09=09=09<tr>
=09=09=09=09=09=09<td align=3D"center" style=3D"word-break:break-word;font-=
size:0px;padding:0px;">
=09=09=09=09=09=09<table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"border-collapse:collapse;bor=
der-spacing:0px;">
=09=09=09=09=09=09=09<tbody>
=09=09=09=09=09=09=09=09<tr>
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ESMr6NDlbHE4k9mA%2Fi7638CL74mGGGLhe3mBk7E892g%2Fn763Ub62VyHtNtNk892tS5o5TA/=
1/010f0185401fae4c-dad28eea-21ea-4e7e-b6fe-354ebed9a258-000000/7tJfMsQRzgrp=
YKDlwsS9KjaUIgI=3D86" target=3D"_blank"><img alt=3D"The Signal will return,=
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ges/019/683/012/mail/GNGL_BLK_SHORT_GOLD_LINE.001.png?1668210008" style=3D"=
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;width:100%;height:auto;" title=3D"The Signal will return, 2022 | 01" width=
=3D"650" /> </a></td>
=09=09=09=09=09=09=09=09</tr>
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