2.Under Galleries, click on "Master Pages"
3.Select default.master and select “Edit in Microsoft Office SharePoint Designer”.
4.In “Design” view locate “View All Site Content” on the left-hand-site navigation bar and click on it.
5.Go to “Code” view. You will see the following code highlighted:
6.Change the PermissionString attribute value of the Sharepoint:SPSecurityTrimmedControl XML element from ViewFormPages to BrowseDirectories.
7.Save the default.master. If you login as an anonymous user you will not see the “View All Site Content” link. However when authenticated you will see this option.