In 1948, Schwinger developed a local Lorentz-covariant formulation of relativistic quantum electrodynamics in space-time which is fundamentally inconsistent with any delocalized interpretation of quantum mechanics. An interpretation compatible with Schwinger’s theory is presented, which reproduces all of the standard empirical predictions of conventional delocalized quantum theory in configuration space. This is an explicit, unambiguous, and Lorentz-covariant “local hidden variable theory” in space-time, whose existence proves definitively that such theories are possible. This does not conflict with Bell’s theorem because it is a local many-worlds theory. Each physical system is characterized by a wave-field, which is a set of indexed piece-wise single-particle wavefunctions in space-time, each with its own coefficient, along with a memory which contains the separate local Hilbert-space quantum state at each event in space-time. Each single-particle wavefunction of a fundamental system describes the motion of a portion of a conserved fluid in space-time, with the fluid decomposing into many classical point particles, each following a world-line and recording a local memory. Local interactions between two systems take the form of local boundary conditions between the differently indexed pieces of those systems’ wave-fields, with new indexes encoding each orthogonal outcome of the interaction. The general machinery is introduced, including the local mechanisms for entanglement and interference. The experience of collapse, Born rule probability, and environmental decoherence are discussed, and a number of illustrative examples are given.