In a large saucepan over medium high heat, bring the vegetable broth to a boil. Turn off the heat and add the saffron, salt and pepper; set aside.
Heat the butter in a large saucepan over medium high heat until melted and bubbly. Add the onion and cook for 3 minutes, until onion begins to soften.
Add the basmati rice to the onions and stir over medium high heat for 2 minutes, until the rice begins to brown.
Add the broth mixture to the rice, bring to a boil then turn heat down to simmer, cover the pot and simmer for 10 minutes, until the rice has absorbed water and is no longer crunchy.
To toast the almonds
While the rice is cooking, place the almonds in a 350 degree oven. Watch carefully and stir often as they will burn quickly.
Once browned, remove the almonds from the oven and transfer to a bowl until ready to add to pilaf.
Remove the rice from the heat and stir in the red pepper, black olives, almonds, and parsley. Serve immediately.
You do not need to saute the red pepper - so don't be tempted to add it to the onions. It will be mushy if you do. Just stirring them in after the rice is cooked is good enough as the heat and steam from the cooked rice will soften them a little. It is nice to have them had a little crispiness in the dish - the nuts add that awesome crunch too - I chopped mine up a little after toasting them.