In a cast iron skillet, fry the bacon on medium heat and set it aside. Leave the bacon grease in the skillet, and reduce the heat to med/low. Let the bacon drain on some paper towels, then chop it into pretty big chunks.
Add 1 tbsp of clarified butter to the bacon grease, and allow it to heat up. Add the sliced onion, stirring every few minutes. Allow the onions to brown, stirring often, until they are reduced and caramelized. This process takes a while, around 30-45 minutes. Turn the heat to low if the onions start to burn. When you’re done you should have a beautiful mound of caramelized onions. Set them aside, and let’s cook up some liver.
Gently rinse the liver in cold water, then pat dry with paper towels. Cut the liver pieces in half. Season each side with the salt and pepper.
Add the coconut oil and the rest of the clarified butter to the skillet, and bring the heat up to med/high. Let it heat for a few minutes, but don’t let the butter burn. Sauté the liver for two to three minutes, then flip the pieces and sauté for another two minutes. If the liver tries to curl, pin it down with some tongs. The liver is ready when it is slightly springy to the touch, and should be slightly pink in the middle.
Smother the liver with the onions, then the bacon. Serve immediately.