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Then what would happen if the poles shifted and the cable was no longer on the equator ...

The earth's poles don't "shift". Even if something big hit us, it would probably just change the inclination of the poles.

Magnetic poles shift, but the axis of rotation doesn't. Over time, the land shifts due to tectonic movement. Maybe that's what you're thinking of, but that takes millions of years.

The degree of the Tilt does change. This, and the changes to geographical features like the continents and the normal precession of the axis through the ecliptic and the equinoxes all combine to result in the dreaded and unfixable "Climate Change".

Earth-s-Axial-Tilt-The-Specifics

...xnip...In the course of a year. We have different seasons because of this. However, the locations of the north and south poles are not static. In reality, the axial tilt of the Earth oscillates between 22.1° and 24.5°. The Earth’s axis also wobbles around itself, which accounts for the shifting axial/obliquity angle. It results from the gravitational pull of the Sun, Moon, and other planets. However over time, Earth’s environment and climate have been significantly shaped by its axial tilt...xnip...

I suspect climate change is also affected when our solar system goes above or below the protective dust shielding along Galactic plane and we are all of a sudden subjected to all sorts of radiation from the stars and black holes at the center of the galaxy that cause an increase in lightning in thunderstorms, but that is for another thread!

The degree of the Tilt does change. This, and the changes to geographical features like the continents and the normal precession of the axis through the ecliptic and the equinoxes all combine to result in the dreaded and unfixable "Climate Change".

Earth-s-Axial-Tilt-The-Specifics

...xnip...In the course of a year. We have different seasons because of this. However, the locations of the north and south poles are not static. In reality, the axial tilt of the Earth oscillates between 22.1° and 24.5°. The Earth’s axis also wobbles around itself, which accounts for the shifting axial/obliquity angle. It results from the gravitational pull of the Sun, Moon, and other planets. However over time, Earth’s environment and climate have been significantly shaped by its axial tilt...xnip...

I suspect climate change is also affected when our solar system goes above or below the protective dust shielding along Galactic plane and we are all of a sudden subjected to all sorts of radiation from the stars and black holes at the center of the galaxy that cause an increase in lightning in thunderstorms, but that is for another thread!