msravi didn't mention anything about this hypothetical parameter being local. Bell's theorem does not rule out nonlocal hidden variables.

See also http://en.wikipedia.org/wiki/Loopholes_in_Bell_test_experime.... Many of these are practical matters and have been overcome in one experiment or another, but some issues (like the possibility of superdeterminism) are more fundamental.

And the article explicitly mentions how pilot waves through superfluids could give rise to nonlocal yet deterministic effects.