Cuising in Prince William Sound, AK comfortably at 22 knots, instantaneously we loss all electrical power to the engine (496 Mag HO), ignition and intruments. Checked all battery connections, every fuse or fuse link I could find, etc. Was just looking at a Bayliner manual and it mentions a master fuse on the engine. I saw a 50A fuse block on the engine, but it was not set. Of at least I'm assuming it wasn't. It has a small yellow push button that when you push it, a small yellow tab pops out. Of course, I pushed the tab back in. I assume this is like the GFI circuit breakers in kitchens, etc. with a test button? Or does it actually contain a fuse inside? Is this what they refer to as the master fuse? Thanks for you help.