Heat the oil in a heavy-bottomed, non-reactive Dutch oven or stainless steel pot over medium heat until shimmering but not smoking, 3-4 minutes.
Fry the bacon for 5-6 minutes or until browned and crispy. Remove and set aside on a plate.
In the same pot, sauté the onions and garlic until softened. Remove excess bacon fat if necessary.
Add the diced brisket, cumin, oregano, coriander, cayenne pepper, and dried thyme. Cook for 4-5 minutes.
Stir in the jalapeño, bell pepper, diced tomatoes, and tomato sauce for a minute or two, then add beans, chili powder, beef stock, beer or coffee, and reserved bacon. Adjust seasoning for salt if needed.
Bring to a simmer and cook for an hour or two, stirring occasionally. If it begins to stick to the bottom of the pot, stir in ½ cup of water and continue simmering until the chili is dark, rich, and thickened to the desired consistency.
Adjust seasoning with additional salt, pepper, and liquid as needed.
Serve hot with the desired toppings. Enjoy!