PC Throttling/ Low Usage at good temps?

[aaabduL]

Recently, my PC performance has dropped significantly. At random times for a few seconds, fps drops to practically unplayable in games. The times are not predictable nor the length of the fps drop. I ran Valley Benchmark in free mode so there was no fade between clips so I can tell when it drops from when it changes slides. The time spent was good for a bit then I had the fps drop a few times later into my benchmarking. The temps are good, what they usually are for me anyways. I've never experienced thermal throttling and am wondering if I am experiencing it now and how I would fix it. The fps drops are seen when the GPU usage, temp and CPU temp drops but cpu usage goes up?

Link to MSI Afterburner Pic http://imgur.com/2iZFWjx
Specs
FX-8350 STOCK, watercooled with Corsair h55 closed loop
GTX 970 OC to 1329mhz
MSI 970 Gaming MOBO
16GB ddr3 RAM
750w BRONZE EVGA PSU


EDIT: Here is another picture after about an hour of gaming. The drops are clearly visible
http://imgur.com/a/EfYY1

 

[Supahos]

Open the side of your case and point a fan at the vrms near the CPU and see if it goes away. I think the power delivery on that board can't handle your CPU.

The water cooler actually makes the situation worse

 

[aaabduL]

Open the side of your case and point a fan at the vrms near the CPU and see if it goes away. I think the power delivery on that board can't handle your CPU.

The water cooler actually makes the situation worse

I have 2 intake fans with 1 on the 120mm radiator 1 exhaust fan on the top near the heatsinks on the motherboard and another exhaust fan on the back near the heatsinks again. It's not like its a new build, it's a new problem I've never faced before in about a year of this pc.

 

[Supahos]

Those chips have a tendency to slowly kill the midrange boards power delivery. It's not just airflow its more about airflow in the right spot. Just try it if it acts any better you'll know you need a new board or downclock the cpu