Ha! That sounds very similar to what I used to make, except for the uber salty olives.
I used to get the bacala from the market from a large barrel and soak it for a couple of days to get the salt out.
Cod stew is delicious. It’s been a long time since I made it.
I actually rinse the olives and capers under water to remove all the excess salt. The cod provides enough salt on its own.