Pat the meat dry with a paper towel and season with the salt and pepper. Heat 2 tablespoons of the oil in a large stew pot or Dutch oven over medium-high heat. Sear the meat, in small batches, until well browned, adding more oil to the pan if needed. Transfer meat to a bowl and reserve.
Discard all but 2 tablespoons of the oil from the pan. Saute the onions over medium heat for 10 minutes, scraping up the browned bits with a wooden spoon from the bottom of the pan. Add the garlic and saute for 2 minutes more. Stir in the chili powders, cumin, and oregano and cook for 2 minutes. Whisk in 5 cups of the stock. Add the meat and any accumulated juices to the pot. Bring to a gentle simmer. Season the chili with salt and pepper to taste, and stew the meat with a cover slightly ajar until almost tender, about 3 hours.
In a food processor or blender puree half of the beans with the remaining stock. Add the bean mixture to the chili along with the whole beans. Simmer for 1 hour more or until the meat is tender. Season with salt and pepper to taste and serve with rice and selections of condiments, like sour cream, chopped cilantro, shredded cheddar, minced fresh or sliced pickled jalapenos.
Try to avoid using canned beef broth because it can give the chili an unpleasant tinny taste. The chili tastes best if made a day a head, refrigerated, and reheated.
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