In a bowl, combine all of the dry ingredients and mix well. Place the slab of bacon into a dutch oven and sprinkle both sides of bacon with dry rub. Pat the dry rub into the sides of the bacon (use all of the rub). Cover the dutch oven and refrigerate for a minimum of 2 hours.
Preheat oven to 250 degrees Farenheit. In a small bowl, combine the ingredients for the braising liquid and mix well. Microwave on high for 1 minute.
Remove the bacon from the refrigerator and sprinkle with onions. Pour the braising liquid into the dutch oven. Do not pour on top of bacon. Cover the dutch oven and braise in oven for 2 1/2 hours.
Remove pan from the oven and place on burner. Remove lid and, over medium high heat, reduce liquid in pot until it is thick and glaze like.
Pour contents of pan into food processor. Pulse bacon mixture until it is a thick, but chunky consistency.
Pour into serving dish or lidded jar. If not using immediately, refrigerate. (Let the bacon chutney cool to room temperature before putting the lid on it and putting it into the refrigerator.)