Well, I guess if you kept a cat or 2 at ground level, that might keep the squirrels away. Or, will the cat only chase the squirrels UP the pole? And once the little rodent is out on the wire, what's a kitty to do?
This 'idea' isn't novel but I don't know of anything 'good' about a cat that's been eating/killing rodents. From what little I know, it's a health 'issue' to go petting and holding and so on, a cat that's been living a life as such. BUT, as it's been always said: To each his own. (Bob's idea is certainly another idea ...)