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In large pot, combine the buttermilk, sugar, and baking soda. Stir until sugar has dissolved.
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Over medium heat, cook until mixture is bubbly and light brown in color.
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Cook until it reaches the soft-ball stage, stirring constantly.
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Remove from heat and add the butter, vanilla, and nuts.
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Beat the mixture until it's glossy and just starts to show crystallization.
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Quickly spoon onto waxed paper or greased cookie sheet anf form 2 inch patties.
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If the mixture turns grainy and hardens too fast, reheat for several minutes.
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If it doesn't get firm, it makes a great caramel nut sauce and if it gets too hard, it makes a great topping.