Smart quotes creating a problem with anonymos user role
Without more information it's hard to tell exactly's going on but there's a couple things that come to mind:


Copying and pasting from MS Word/other rich text editors is notoriously problematic and both TinyMCE and CKEditor have built-in settings for pasting data from Word &amp; stripping the extra formatting
In case you're not using any WYSIWYG you should always paste your code in Notepad or another plain-text editor and then re-copy it to lose the extra formatting
Finally, I don't really think it applies to viewing content at all but the visibility thing might have to do with the text-format used in the body field, it's common to edit content using Full HTML and then users without access to it (only Filtered HTML for example) can't edit it