It is found that the global salinity variations associated with the thermohaline circulation may have a tendency to make the circulation increasingly asymmetric with respect to the equator. As a consequence the salinity difference between the Pacific and the Atlantic Ocean may be slowly increasing. Such a process could have a time scale long enough to be comparable with the time span between major glaciations. A speculative glaciation cycle is proposed which involves the above mentioned property of the thermohaline circulation. In this cycle the role of a Northern Hemisphere glaciation is to bring excess freshwater from the Pacific to the Atlantic.