Sort olives by size. Toss out olives with holes in them.
Dissolve salt in water to create brine.
Add spices and lemon peels to a half-gallon (2 liter) glass jar.
Add olives to jar.
Pour vinegar and brine on top of olives, to 1/2" from top of jar.
Insert a weight to keep olives from floating.
Secure jar with lid or airlock.
Ferment 4 to 6 months, until bitter flavor is gone. (You can start tasting after 4 months).
You can change the brine after fermentation if it has gotten discolored or has yeast or mold on it. Mix a 5% brine (salt to water weight) and replace old brine.