Is 'mong' an offensive word?

[Gandalf]

The race thing is something that interests me because I was accused of being racist on the main board last week and I have never used racist terminology on that board (and I don't regard Jews as a race). However, now that I think about it, even if you do, it shouldn't be a bother. You aren't hurting anyone. How is calling someone a white big eared git different to being an Asian small dick? These are both insults, but why do we draw the line at race? Both are negative and insulting, but we seem to place greater significance into one over the other in the here and now and that just seems silly.