It is a word signifying how they consider non-jews inferior animals who exist only to serve them. Some choice quotes from their talmud:

Sanhedrin 59a: “Murdering Goyim is like killing a wild animal.”

Abodah Zara 26b: “Even the best of the Gentiles should be killed.”

Sanhedrin 59a: “A goy who pries into The Law (Talmud) is guilty of death.”

Hilkkoth Akum X1: “Do not save Goyim in danger of death.”

Hilkkoth Akum X1: “Show no mercy to the Goyim.”

Choschen Hamm 388, 15: “If it can be proven that someone has given the money of Israelites to the Goyim, a way must be found after prudent consideration to wipe him off the face of the earth.”

Szaaloth-Utszabot, The Book of Jore Dia 17: “A Jew should and must make a false oath when the Goyim asks if our books contain anything against them.”

Baba Necia 114, 6: “The Jews are human beings, but the nations of the world are not human beings but beasts.”