In a large saucepan, heat the vegetable oil. When the oil is hot, add the onions and saute until the vegetables start to wilt, 3 to 5 minutes. Season lightly with salt and cayenne.
Stir in the stew meat, chili powder, cumin, crushed red pepper, and oregano. Brown the meat for 5 to 6 minutes. Stir in the garlic, tomatoes, tomato paste, beef stock, and beans. Bring the liquid up to a boil and reduce to a simmer. Simmer the liquid, uncovered and stirring occasionally, until the beef is tender, 1 to 1 1/2 hours. Skim any fat that comes to the surface.
Mix the masa and water together. Slowly stir in the masa slurry and continue to cook until the chili is thick and flavorful, about 30 minutes longer. Season to taste with salt and cayenne.
To serve, place a handful of the chips in each shallow bowl. Spoon the chili over the chips. Garnish with the grated cheese, sour cream and jalapenos.
Yield: 2 quarts, 4 to 6 servings