Easy One Pot Authentic Hungarian Goulash

Name: Easy One Pot Authentic Hungarian Goulash
Ingredients: 3 tablespoons pork lard or butter , pork fat is traditionally used; 1 1/2 pounds yellow onions, chopped; 1/4 cup Hungarian paprika, good quality imported from Hungary; 2 pounds stew meat, cut into 1/2 inch pieces; 5 cloves garlic, minced; 2 red bell peppers, seeded/membranes removed, cut into 1/2 inch chunks; 1 yellow bell pepper, seeded/membranes removed, cut into 1/2 inch chunks; 1 can tomatoes, diced; 2 carrots, diced; 2 potatoes, medium, cut into 1/2 inch chunks; 5 cups beef broth; 1 bay leaf; 1 teaspoon salt; 1/2 teaspoon freshly ground black pepper