The entire exchange is a phrase soup consisting of pseudo-jargon and  confusing metaphors.

All references go to sex and money. The conversation _appears_ to be happening while the couple are having sex. Hence, the "you *are* (my lover)".

"First Lover in the nighttime" is a coarse reference to the courtesy title normally awarded to spouses of higher government dignitaries.

Some users are suggesting that "bacon" is an indirect reference to policeman: that is totally believable.
 "Pig" (as a euphemism for police)  has been re-appropriated by the very agencies that once found it a slur.

***However***, in this case it is   double entendre, and  given the context, the obvious meaning is more crude and sexual in intent:

It is a reference to...

[pork (verb) slang][1]

>to have sex with a person.

-The On-Line Slang dictionary

In this case,

**to have sex with a policeman**


  [1]: http://onlineslangdictionary.com/meaning-definition-of/pork