Heat olive oil over medium-low heat. Add onion and cook for 10 minutes, stirring often.

Add garlic and diced red pepper. Cook for another 10 minutes, stirring often. Add chili powder, cumin, sweet paprika, and oregano. Cook for 2 minutes.

Increase heat to medium and add the ground beef. Season with salt and pepper and cook, crumbling into small pieces, until browned. Stir in beef boullion.

Remove from heat and transfer mixture to a bowl to cool for 10 minutes. Then, stir in green onion, olives, parsley, and hard-boiled eggs.

Cover and chill mixture for at least 1 hour or up to 3 days, depending on the freshness of ingredients.

Add flour and salt to a large bowl and stir to combine. Add egg and butter and stir well to combine. Add oil and warm water and stir until the mixture starts to come together into a dough ball.

Place dough in a clean greased bowl and cover tightly. Allow to rest at room temperature for 1 hour or refrigerate for up to 1 day.

Divide the dough into two pieces. Roll each piece into a circle about ⅛ in thick.

Use a small bowl or round cookie cutters to cut the dough into circles about 6 in in diameter for regular size empanadas.

Place about 2 tablespoons of filling in the center of each circle, leaving space around the border. Moisten the edges with water, fold dough over, pinch the edges together, and crimp.

For baked empanadas, place on a baking sheet lined with parchment paper, brush with egg wash, and bake at 375° for 25-30 minutes until golden brown.

For fried empanadas, refrigerate for 20 minutes, heat oil to 365°F, and fry until golden on both sides (1-2 minutes per side).