1 tsp. salt
1/2 c. granulated sugar
1/4 c. brown sugar
3 c. beef bouillon or beef stock
1/2 c. prepared mustard
1/4 c. white vinegar
1/8 c. Liquid Smoke
1/2 c. Worcestershire sauce
1 c. tomato paste
1/2 tsp. red pepper flakes
1 tbsp. chili powder

Combine all ingredients and simmer in heavy kettle for 2 hours, uncovered. Stir often and watch the liquid content so that it does not evaporate. You may have to add a bit of water.