Depends on where that jury is, doncha think? Along with how they're instructed.

Not in this instance, no.

The reason we have grand juries is for this purpose - to provide protection, a check, against the government's power to prosecute. A prosecutor still has enormous influence in the grand jury proceeding because of their power to select what evidence is presented to them. Hence, the ham sandwich. But that influence is not unlimited.

A prosecutor that walked into a grand jury with no evidence - no documents, no witnesses - probably isn't going to be able to get an indictment. There has to be something there.

That's why Trump's actions were responsible, in part, for his current predicament. He falsified business records so that they wouldn't accurately reflect what he was paying the money for. You can pay off a pron star to cover up your affair - but you're not allowed to create a false record of a fictitious retainer agreement backed by dummy invoices in order to conceal that those payments.