Place beans in a large pot adding water that should be at least one inch over beans.
Cover with lid and allow to soak 8-10 hours or overnight.
Drain water. Add broth.
If using bouillon cubes, add clean water.
Add cubes when water starts to boil.
Separate beef strips and microwave between paper towels for 1½-2 minutes.
The beef will be partially cooked. This process removes excess fat without losing flavor.
Allow to cool and chop into small strips. Add to beans.
Add onion, peppers, garlic and liquid smoke.
Cover tightly with lid. Allow to come to a slow boil, then reduce to simmer.
Cook on stovetop for 4-5 hours, or until beans are tender.
Add chili powder and salt, if needed.