Smoke every time I start

[Kevfra]

Well heck - what's going on?

My car is running great - same power as ever, nice and smooth, idle is fine, running temperature same as ever... but two things have happened suddenly:

It blows tons of white smoke every time I start. I know about a box engine occasionally starting with a puff when the rings line up, but this is now every time, even if it has only been off for several minutes. Once it clears things are fine, although it just now did it again when I came to a stop sign. Then it cleared again.

This began a few days ago when another thing popped up - a sound. Coming from the engine compartment, it sounds like a slipping belt on a pulley. A fairly loud squeal. Doesn't change with speed, and stops when I stop and the engine drops to an idle. Doesn't begin right away when I take off, but after several seconds, and oh yeah - only once the engine is fully warmed up. Doesn't behave like a slipping belt (belt is only ten thousand miles old), but sounds like it.

No OBD reports - I checked. What's up??? 2001 S with 65,000 miles