In a large pot, heat the olive oil over medium heat.
Add the diced onions and garlic and cook until they are soft and translucent.
Add the chile peppers, tomatoes, and caldo de pollo to the pot. Stir everything together until it is well combined.
Sprinkle in the flour and stir until it is completely dissolved. Add the water, salt, black pepper, and garlic powder to the pot and stir again.
Bring the chili to a boil, reduce heat to low, and simmer for 30-45 minutes or until the chili has reached your desired thickness. Be sure to stir occasionally so that it doesn’t stick to the bottom of the pot.
Serve the chili hot!