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It's your spool shaft seal. It's dry, add oil and work it in.
When your spool is at it's highest raised point, do you see some black at the bottom of the shaft. My guess is that the o-ring is beginning to deteriorate due to it's cold, hard, contracted state and lack of lubricant. It'll crank hardest at the top and bottom as this is where the shaft transitions from going up to going down. You might even see some black just under the spool as well.
I don't know why VS doesn't use heavy oil instead of grease, inside these reels. It would prevent a lot of these problems.
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