Sound Siphon is a new app for the Mac that can turn the audio output of an application into an audio input device. Normally, when making a recording on your make, using Quicktime, for instance, you'll use a microphone for audio input. What Sound Siphon allows you to do is designate your Mac, or specific applications like iTunes and Safari, as audio input devices, then record the audio from those apps with your chosen recording app.
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