Simmering the chili in the oven rather than on the stovetop prevents scorching at the bottom of the pan. Find achiote paste and dried whole chiles at Latin markets. Ask your butcher for chili-grind beef, which is more coarsely ground and requires the 1/2-inch plate on the grinder.
How to Make It
Combine first 5 ingredients in a medium saucepan; bring to a simmer over medium heat. Stir well to dissolve achiote paste. Cover pan, and remove from heat; let stand 30 minutes. Combine stock mixture, 1 can kidney beans, and 1 can small red beans in a blender. Remove center piece of blender lid (to allow steam to escape); secure blender lid on blender. Place a clean towel over opening in blender lid (to avoid splatters). Blend until smooth. Set aside.
Preheat oven to 325°.
Heat a large Dutch oven over high heat. Add 1 1/2 teaspoons oil to pan; swirl to coat. Add half of beef; cook 4 minutes or until very well browned, stirring occasionally. Remove beef from pan. Repeat procedure with remaining 1 1/2 teaspoons oil and beef. Reduce heat to medium-high. Add onion, bell pepper, cumin, sugar, salt, black pepper, and garlic; sauté 4 minutes or until vegetables are tender.
Add beer to pan; cook 5 minutes or until liquid is reduced by half. Add tomatoes; crush well with side of a spoon or tongs. Add beef. Stir in stock mixture, remaining 1 can kidney beans, and remaining 1 can small red beans. Cover loosely to allow steam to escape; bake at 325° for 90 minutes
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