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Cut the tortillas into 1/4-inch wide strips and leave uncovered at room temperature until they are dry and crisp, about 24 hours (or heat in iron skillet until dry and hot).
In a 4-quart saucepan over low heat, melt the butter. Add onion, garlic, oregano, and bay leaves and cook, covered, stirring once or twice, for 10 minutes. Stir in the chicken broth, potatoes, chile, cumin, salt and black pepper and bring to a boil. Lower heat and simmer, partially covered, stirring once or twice, until the potatoes are very tender, about 25 minutes. Remove bay leaves and discard. Cool mixture to room temperature, about 20 minutes.
Stir in the cream and adjust the seasonings to taste, if desired. In small batches, purée mixture in a blender or food processor. The soup can be prepared up to 3 days ahead. Cool thoroughly and refrigerate, covered. Re-warm over low heat, stirring often, until steaming.
Ladle the soup into wide bowls and sprinkle with cheese and tortilla chips. Serve immediately. Optional garnishes: red chile salt or red pepper flakes, or celebrate the holiday season by placing a single silk poinsettia flower in the center of each bowl of soup.
* I prefer extra hot chile and extra cream. If you prefer a milder chile, consider using less cream to retain chile’s tasty flavor.
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