Low temperature properties of glasses are derived within a generalized tunn
eling model, considering the motion of charged particles on a closed path i
n a double-well potential. The presence of a magnetic induction field B vio
lates the time reversal invariance due to the Aharonov-Bohm phase, and lead
s to flux periodic energy levels. At low temperature, this effect is shown
to be strongly enhanced by dipole-dipole and elastic interactions between t
unneling systems and becomes measurable. Thus, the recently observed strong
sensitivity of the electric permittivity to weak magnetic fields can be ex
plained. In addition, super-imposed oscillations as a function of the magne
tic field are predicted.