In a medium saucepan combine the bacon, stock, vinegars, sugar, ketchup, red pepper flakes, chile powder and 1 tablespoon salt. Bring this mixture to a boil, then reduce the heat to a medium low simmer until the bacon has rendered its fat. This should take 15 minutes. Remove this from the heat; set this aside to allow the flavors to develop. This should take about 20 more minutes. Remove the bacon.