I am amused by the idea that putting something outside of the USA (where US intelligence organizations aren't even in principle restricted from spying on it) will somehow protect it from US spying. Sure, there have been lots of stories recently about US domestic surveillance, but those have been news specifically because there are, in theory, restrictions on the agencies involved spying within the US, which create expectations and that domestic spying violates, whereas the official purpose of the NSA is spying on electronic communications outside of the US.
Yes, the superficiality of commentary in this thread is pretty disappointing. An undersea cable between two countries neither of which is the USA is going to be the VERY FIRST THING that the NSA taps. That is the PURPOSE of the agency.