Preheat oven to 300 degrees. In a large heavy-bottomed pot {such as a dutch oven} heat olive oil over medium heat. Once the pot is hot, sauté onions for 3 minutes.
Stir in garlic and cook another minute. Season meat with salt and pepper and brown in pot. This should take about 5 minutes.
Pour in beef consommé, water, bay leaves, and thyme. Stir and cover. Place into the preheated oven (or crockpot on high) and bake 2-3 hours or until meat is fork-tender. Remove from oven.
Using a slotted spoon, remove meat from the liquid in the pot. Return to medium heat on the stovetop. In a small bowl, stir butter and flour together until smooth paste forms.
Pour butter mixture into the hot liquid and whisk in to stir. Within a minute or so, the sauce should thicken to a gravy. If the gravy gets too thick, add in 1/2 cup water or until desired consistency is reached. Replace meat and stir to coat in gravy. Turn heat to low to keep warm before serving.
Serve with mashed potatoes and/or roasted veggies!