In a large skillet, heat oil on high until it begins to smoke slightly. The oil will look like it’s making ripples in the pan.
Carefully put beef pieces into the hot oil (be careful of the oil splashing) and let them sit until you can freely lift the pieces from the pan. Turn. Sear beef on all sides. Reduce heat slightly, if necessary, but you want to leave them sear until they're almost burning. You'll smell the sear!
When all sides of the beef are seared, add the onions to the pan and saute briefly. Then, add 3 cups of water, salt & pepper. Reduce heat to a very low simmer, and cover pan. If you see the water is getting low, add more water. Make sure the pan does not simmer dry! Simmer on low approximately 1.5 hours.
Then, turn the heat up to medium, add potatoes, carrots and ground cloves, cover and let simmer approximately 30 minutes more, or until vegetables are fork tender.
Next, thicken pan liquids for gravy by turning the heat up for a boil. Slowly stir in the slurry until you reach your desired thickness. You might not need the entire amount. Add one last dash of salt & pepper, and serve piping hot over biscuits or egg noodles.