In a high-speed blender, or food processor, combine the cashews, water, salt, lemon juice, nutritional yeast, turmeric, and the liquid from the can of diced tomatoes and green chiles. (I was able to get about 1/4 cup of liquid from the can.)
Blend until a smooth and creamy "cheese" sauce is created, adding a tablespoon or two more water, if needed for blending. Transfer the cheese mixture to a large bowl, then stir in the can of diced tomatoes and green chiles.
At this point, be sure to adjust any flavors to your taste, then warm the dip using a small crock pot, or by heating it gently over a stove top. As the dip is warmed, it becomes even more authentic. Serve with baked tortilla chips and fresh sliced veggies.