Britney Spears is threatening to release video diaries of herself, which shows the problems that she has been having over the past six months, on the internet or to MTV.

“Britney’s video diaries are the talk of the Tinseltown elite,” we’re told. “Her high-profile friends and exes – including Justin – knew what she was up to but assumed she was filming herself as a form of therapy. If she does decide to go public with the footage, it’ll be explosive.

“Although some of it is really sad to watch – especially the parts where she’s close to breakdown – others are dynamite. Not surprisingly both JT and Kevin Federline are terrified the material will end up all over the net.

“Or, even worse, Britney will agree to another MTV documentary, and release some of the footage through official channels.”

I can’t imagine what is exactly on those tapes. There could be lots of juicy stuff or it could be just a bunch a drunk banter like this clip below. Anyway, she’ll probably make lots of money for the exclusive footage.