Purpose: This examine demonstrates a proof of idea of a way for simultaneous anatomical imaging and real-time (Smart) passive system monitoring for MR-guided interventions. Methods: Phase Correlation template matching was combined with a quick undersampled radial multi-echo acquisition utilizing the white marker phenomenon after the primary echo. In this way, the first echo supplies anatomical distinction, whereas the opposite echoes present white marker contrast to permit accurate system localization using fast simulations and template matching. This approach was examined on monitoring of five 0.5 mm steel markers in an agarose phantom and on insertion of an MRI-appropriate 20 Gauge titanium needle in ex vivo porcine tissue. The areas of the steel markers were quantitatively in comparison with the marker areas as found on a CT scan of the same phantom. Results: The common pairwise error between the MRI and CT locations was 0.30 mm for monitoring of stationary steel spheres and 0.29 mm throughout motion.