Top-ranked recipe named "Terlingua Chili"
This recipe is similar to, and based on the 1994 champion's recipe of the Terlingua chili cookoff. http://www.chili.org/recipes.html. I learned a lot studying the website and hopefully, you'll check it out, as well. Evidently, the secret to good chili is "layering" the flavor. There are no beans in "real Texas chili", but I've tried it with and without beans and it's great either way. Set aside at least 3 hours for this, and if you have leftovers, it freezes well.
Cook the chili grind meat in the bacon drippings in a stock pot until the meat is a gray color. Add chicken broth, beef broth, and tomato sauce and bring to a boil and then reduce heat to simmer. Add granulated onion, beef bouillon, chicken bouillon, 1/4 teaspoon cayenne pepper, chili powder, and Serrano peppers (whole). Simmer for an hour, stirring occasionally. Remove the peppers.
Add black pepper, onion powder, garlic, white pepper, 1 tablespoon of cumin, 1/4 teaspoon of cayenne pepper, and 3 tablespoons of light chili powder. Simmer for 30 minutes, stirring occasionally.
Add salt, 1 teaspoon cumin, 1/4 teaspoon cayenne pepper, Tabasco, and beans, if desired, and simmer for 15 minutes, stirring occasionally.
Garnish with grated cheddar cheese and chopped onions.
Make chili dogs or Frito pie with leftovers.