also, explain what the heck is the "Y" word
In England it is racially offensive to call a Jewish person a Yit. Hence, like the N word, they use a letter to reference it.
In the 30's, there was an English town with a soccer team. Both the town and the team were primarily Jewish. Most of the Jewish people spoke Yittish. The opposing teams would make a hissing sound (replicating the sound of gas in the execution chambers in Germany) ... give the Nazi salute ... and derogatorily call them Yits. This was done to denigrate them.
Calling a Jewish person a Yit is similar to calling a black person the N word.
Neither word can be re-purposed. They have a history of persecution and denigration.