A local theory of relativistic quantum physics in space-time, which makes all of the same empirical predictions as the conventional delocalized theory in configuration space, is presented and interpreted. Each physical system is characterized by a set of indexed piece-wise single-particle wavefunctions in space-time, each with with its own coefficient, and these wavefields replace entangled states in higherdimensional spaces. Each 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. A number of illustrative examples are given, including a Von Neumann measurement, and a test of Bell's theorem.