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Put flour, baking powder, and salt in a food processor and pulse to mix.
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Cut the butter into chunks, drop on top of the flour mix, and pulse again, several short bursts, until it is in bits the size of split peas.
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Sprinkle 1/2 cup of the cold milk over the mixture, and pulse. Add a little more milk and pulse again, continuing until the mix just comes together into a ball.
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Wrap the dough in wax paper or plastic wrap, and refrigerate for 1/2 hour.
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Roll out the dough to 1/2", and cut into circles with an average-size coffee cup (flour the rim), or your favourite cutter.
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Bake at 450 on an ungreased baking sheet for approximately 10-12 minutes.