Of course, until the circuit is closed, there is no current. The issue of whether a cartridge is high current/low voltage, or vice versa, is only meaningful in the context of what the downstream amplification needs. In the case of a cartridge, the phonostage requires higher voltage than the cartridge delivers, so in that sense, the cartridge is low voltage/high current. A step up transformer steps up the voltage delivered into the phonostage by converting current to voltage; an active MC first stage also jacks up the voltage.