In a medium sized pot, heat olive oil. Add beef and allow it to brown for 5 to 6 minutes. Add onion, garlic, and Italian seasoning and continue to cook for another 3 minutes. Add rice flour and stir to coat.
Add bay leaves. Pour in red wine. When it comes to a boil, reduce heat to low and simmer for about 1 1/4 to 1 1/2 hours.
Add carrots, shallots, mushrooms, black olives, salt and pepper. Continue to cook another 15 minutes and turn off heat.
Serve warm.
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