In a medium saucepan combine the cream cheese, sour cream, gruyere, and asiago. Stir until all the cheeses are melted and well combined.
Stir in the caramelized onions, garlic powder, onion powder, and salt and pepper. Pour the hot cheese dip into the bread bowl. Then dollop the bacon jam all around and swirl it throughout the dip. Serve warm with Wellington Crackers and extra Terrapin Ridge Farms Bacon Jam on the side.