The whole policy is here:
[link to www.reddithelp.com (secure)]

and here's what comes right after the image (<50%):
Some examples of hateful activities that would violate the rule:

Subreddit community dedicated to mocking people with physical disabilities.
Post describing a racial minority as sub-human and inferior to the racial majority.
Comment arguing that rape of women should be acceptable and not a crime.
Meme declaring that it is sickening that people of color have the right to vote.


So saying that on the average, black people have lower IQ's than white people may be a violation (I said inferior but did not say sub-human, but will they think I implied sub-human?) Even though all evidence says it's true.

But saying black people are more soulful and deserving than white people, or of course that black men can jump better than white men, is acceptable. Because it's OK to criticize and "hate" whites but not blacks.