A Cold War has erupted between previously tight twosome Billy Ray and Miley Cyrus as the country crooner strives to keep the most famous of his five kids from blowing her massive fortune on inappropriate tats and psycho-tropic drugs.

Miley turned 18 last month, and in addition to being able to vote and legally purchase cigars and copies of Playboy Magazine, the wildchild has now gotten her hands on the $100 million she amassed as a child star on Disney’s Hannah Montana. Billy Ray, who is in the process of divorcing Miley’s mom, Tish, is trying to get the teen to spend the cash responsibly, but Miley will have none of that.

Billy was a no-show at Miley’s recent 18th birthday and had this to Tweet on the leaked video footage of Miley smoking a bong that hit the blogosphere on Friday. “Sorry guys. I had no idea. Just saw this stuff for the first time myself. I’m so sad. There is much beyond my control right now.”

It’s a telling statement, squeals close to The Warring Cyruses tell Britain’s New! Magazine.

“They’ve had family meetings where Billy has tried to lay down the law about what Miley can and can’t do with the cash, but she’s not interested in listening,” a spywitness divulged. “She’s been controlled her whole life – now she’s free and she’s going to enjoy herself. She’s becoming a nightmare now that she’s in charge of her own assets.”

Hmmm, is anyone else seeing shades of Britney Spears in this business? She went off the rails a couple of years after her parents’ divorce and was determined to break free from the rigid life of a child superstar. Does the future hold an umbrella-wielding meltdown for Miley too?

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