Peel garlic cloves and cut into slices. Rinse chili peppers, cut ends into small pieces, slit lengthwise and remove seeds. Chop the pods into small pieces. Rinse parsley, pluck leaves and chop.
Cook spaghetti in boiling salted water for about 8 minutes. Heat olive oil, sauté garlic and chilies until golden. Add olives to heat. If necessary, add a little spaghetti water.
Drain spaghetti on a colander. Add parsley to garlic form and season everything together with salt, pepper and cayenne pepper. Toss spaghetti in it. Garnish with basil leaves and bring to the table on the spot.