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Preheat the oven to 325 degrees.
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Take your standard tube cake pan and oil it with butter. Then lightly flour the oiled pan. Shake the excess flour from the pan and put to the side.
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Sift the flour, baking soda,and baking powder into a large mixing bowl.
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Stir in salt and the sugar.
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Add the butter. Melt the butter in a pan over slow heat to make it blend easier. (You can do this or just let the butter soften at room temperature.).
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Add the eggs. At this point I break out my mixer and begin mixing on slow.
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Slowly add buttermilk, and then the vanilla extract. After it is thoroughly stirred, I turn the mixer up to medium for a few minutes, and then finally on high. If the mixture is a little thick I add just a touch more buttermilk.
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Pour the mix in, and bake the cake for about 1 hour and twenty minutes.
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Allow the cake to cool 15 or 20 minutes in the pan before removing.