Content not showing when logged out

Hi everyone,

Been customizing index.php of my theme and suddenly realised the content is not showing when logged out.
Everything’s fine while i’m logged in but when i log out all the posts content disapears. everything else is visible and fine, only the posts content is missing.

Here’s what i mean:

http://www.flur.pt/blog/

And this is the current state of my index.php, anything here that might be causing this problem? thank you in advance!

——————

<?php get_header(); ?>

	<div id="content">
	<?php if (have_posts()) : ?>

		<?php while (have_posts()) : the_post(); ?>

<div class="post">

<b><?php the_time('l, j F, Y') ?></b>

<?php if ( $user_ID ) : ?>

				<h1><a href="<?php the_permalink() ?>"><?php the_title(); ?></a></h1>
<small>
				<?php the_content('Read the rest of this entry &raquo;'); ?> <br>

<b>/ / Editar:</b> <?php edit_post_link(); ?> <?php endif; ?> <b>/ / Comentar:</b> <?php comments_popup_link('aqui »', 'Um comentário »', '% Comentários »'); ?> <?php the_tags('/ / Etiquetas: ', ', ', ''); ?></small>

			 <hr/>

		</div>

		<?php comments_template(); ?>

		<?php endwhile; ?>

		<div class="navigation">
			<div class="alignleft"><?php next_posts_link('&laquo; Conteúdos Mais Antigos') ?></div>
			<div class="alignright"><?php previous_posts_link('Conteúdos Mais Recentes &raquo;') ?></div>
		</div>

	<?php else : ?>

		<h2 class="center"></h2>
		<p class="center">Conteúdo não encontrado.</p>

	<?php endif; ?>

	</div>

<?php get_sidebar(); ?>

<?php get_footer(); ?>