The Japanese say "moshi moshi" which doesn't really mean anything, as far as I could determine.
To Matto -- you'd have to know the etymology of Hello, to know if it has anything at all to do with Hell.
For example, the word "niggardly" has nothing at all to do with the racially offensive word "nigger" -- even though the first two syllables sound alike. The etymology is completely different. Nigger started out a slang term for a black man (Latin, "niger" meaning "black")
Sure, the origin of "niggard" is unclear, but not its timeline, which predates the N-word in the English language by a couple hundred years at least. "Niggard" comes up as early as Chaucer, late 14th century. The most commonly speculated origin is Scandanavian nig/Old Norse hnoggr, meaning miserly. Don't know how much faith you want to put in Indo-European roots, but one meaning of the root ken- is conjectured to relate a family of words with a connotation implying closing, tightening, or pinching (the family of related words is hypothesized to include such n-words as nap, nibble, nod, nosh, neap, nip). The racial slur "nigger," on the other hand, doesn't enter the lexicon until the 1500's, first as "neger" or "neeger," obviously from the same root as the French negre and Spanish negro, words for the color black, which are derived from the Latin niger.
Likely, your conversation on the word occurred about the same time as much of the country's, when poor David Howard made the national news for use of this term. Howard, head of the Office of Public Advocate for D.C. Mayor Anthony Williams, who described his own administration of a particular fund as "niggardly" in the presence of two of his staff members. He has since been quoted as saying he "immediately apologized" for making what might be misinterpreted as a "racist remark," but the damage had been done. Rumors circulated that he had in fact used a racial epithet (one attribution claimed he said, "I'm tired of all these niggers calling me with their problems"), and he eventually resigned. Eventually the mayor, after determining the facts, asked him to rescind his resignation, and he rejoined the administration, albeit in another position. The D.C. mayor's web page lists him as the mayor's scheduler.
In such cases, you might as well say "Marshmallow" "Mountain" and "Matthew" have something in common because they all start with "M".
Matthew