When I turn the dryer on, there's a loud continuous squelching noise.
When I turn the dryer one, there’s a very loud high pitch squelching sound like a bearing sound.
More than likely it's a belt slipping slightly on start up. My own dryer has started doing this recently when drying a large load.
Check your belts first and if they are ok have it checked by an appliance repairman for other possible causes.