This is clearer I think so. A more safer investment like what stocks, bond and commodities do and are under regulated umbrella, shares of companies included as it has government eyes and involvement, guiding by agencies through government.
Commodities are more like wheat and grain that could be replaced (such as artificial rubies replacing naturally occurring ones).
Is that saying also that agencies cover by government can not go bankrupt and investors lose money?
It depends but it's likely holding a firm a government considers essential (such as a utility firm - electricity, water, Internet) you're probably unlikely to lose money if you buy it while it's financially stable and producing profit (the government will likely buy it off you for more than it's worth if you're in a country that isn't corrupt and sell it for less than it's worth - to help institutions as governments can generally loan money for "free" -from themselves - provided it's well spent).