Heat a large pot over medium heat and add oil. Add beef and sprinkle with baking powder. Brown beef, stirring to break up into smaller chunks, until no longer pink, 5 to 10 minutes. Using a slotted spoon, remove beef to a bowl.
Add onions to pot and turn heat down to low. Cook, stirring occasionally, until soft, 8 to 10 minutes. Stir in chile powder, cumin, smoked paprika, cayenne and oregano and cook for another 2 minutes to bloom. Add garlic and saute for 30 more seconds. Add beef stock, demi-glace, tomatoes and beans. Add beef back in along with any reserved juices and simmer, partially covered and stirring frequently, for 2 hours. Season to taste with salt and pepper.
Garnish with scallions, cilantro, sour cream, pickled jalapenos and aged Cheddar.