Melt the pork lard or butter/oil in a Dutch oven or other heavy soup pot over medium high heat and cook the onions until beginning to brown, about 7-10 minutes. Add the beef and cook until the beef is just starting to brown, 7-10 minutes. Add the bell peppers, tomatoes, and garlic and cook for another 6-8 minutes. Remove the pot from the heat and stir in the paprika, salt, pepper and caraway (if using) (note: paprika becomes bitter if at all scorched). Add the beef broth, bay leaf, return to the stove and bring to a boil. Reduce the heat to medium, cover and simmer for 40 minutes. Add the carrots and potatoes. Return to a boil, reduce the heat to medium, cover, and simmer for another 30-40 minutes or until the beef is nice and tender. Add salt to taste. Remove the bay leaf.