The cooling system is not pressurized,and the combustion is under a huge amount of pressure.I'm sure guys that have made a study of this,like Larry Brumfield,can tell you exactly how much PSI is generated in the explosions.Coolant may be weeping into the chambers at rest,but very little,and just gets burned on startup.I would say it is being forced through a corroded head gasket.I know of an engine in a doodlebug that is doing exactly what yours is.The owner had no clue if it would run,he is a junkie and had picked it up in a load of iron.It had a cracked head so I gave him one that needed planing.It was domed up in the middle.He freed the valves,put the head on with a used gasket,and fired it up.He has a winch on it with a boom and uses it in the yard for scrapping.If he had any idea it was any good he would have sprung for a gasket and a head shave.As it stood he didn't know if it would pound and rattle when he fired it.As it is he is pumping sap out around a couple of head studs and some into the radiator.He plans to fix it when something actually goes.He has 8-10 years on the used parts now.