In a medium saucepan, combine the milk with the saffron and 1 cardamom pod. Bring to a boil slowly at a medium-high temperature. Make sure it does not burn. Set aside and keep warm.
Melt the butter at a medium temperature in a separate small sauté pan with the crushed cardamom and cinnamon stick. Next, lower the temperature to a medium-low heat and add the dry vermicelli noodles to brown slightly, until the aromas have released into the air and the noodles are cooked through.
Once the noodles have toasted, add water, raise the temperature to a medium high and cook until the water has evaporated.
Transfer the noodles to the warm milk; add the sweetened condensed milk, raisins, dates, and nuts. Now bring to a boil, then reduce heat to a low temperature, cover with the lid, allowing the steam to escape and simmer for 15-20 minutes.
Once the milk has reduced and the noodles have absorbed some of the liquid, remove from heat. Add the cardamom and nutmeg powder, stir, and cool. Refrigerate.
Transfer to serving dish and garnish with nuts and raisins.