Remove the stems and seeds from the dried chile peppers. Toast the chiles in a dry pan over medium heat for 30 seconds per side or until fragrant. Remove chiles from the heat to a large bowl and cover with hot water. Cover bowl with plastic wrap and allow the chiles to soften for at least 20 minutes.

To a blender, add the reconstituted chiles and 1 cup of new clean water (not the chile soaking water) and blend until smooth.

Preheat oven to 300f and set the rack to the middle level.

Heat a large Dutch oven to medium heat with the lard. Pat the beef cubes dry and season with salt and pepper. Sear the beef until browned on all sides working in batches if needed to not overcrowd the pan. Place the seared beef on a plate and set aside.

Add the onions to the pot and cook until soft (about 7-8 minutes). Add the garlic along with the cumin and cook until fragrant (about 2 minutes).

Add the chile sauce to the pot and cook for another 3 minutes while stirring frequently.

Add the beef cubes back to the pot along with the oregano, bay leaves, and beef stock and bring to a boil. Once boiling turn off the heat and cover with the lid. Place the pot into the oven.

After 90 minutes remove the lid and return to the oven for another 30-45 minutes or until the chili has thickened and the beef is tender. Note: If the beef still isn't fork tender, cook for another 20-30 minutes and check again. Add more beef stock if it starts to dry out.

Remove the pot from the oven. If the chili hasn't thickened enough, add the tortilla chips and/or cook over medium-high heat stirring frequently until thickened to your liking.

Taste test the chili and adjust salt and pepper as required. If the chili is too bitter add 1-2 teaspoons of agave or honey to balance it out. Serve in bowls topped with sour cream, jalapeno peppers, diced raw onion, queso blanco, cotija, or whatever you like. Enjoy!